Inox Wind Energy Limited was incorporated on March 6, 2020 under the Companies Act, 2013 with the objective of
engaging in business of generation and sale of wind energy, providing services for Erection, Procurement and
Commissioning (EPC) of wind farms and holding strategic business interest in Renewable Energy. The Registered Office
of the Company is situated at ABS Tower, 3rd Floor, Old Padra Road, Vadodara -390007, Gujarat.
As per the Composite Scheme of Arrangement (the "Scheme") between Inox Renewables Limited (a wholly owned subsidiary of GFL Limited), GFL Limited and Inox Wind Energy Limited (the "Company" or the “Resulting Company") and their respective shareholders under Section 230 to 232 of the Companies Act, 2013 and all other applicable provisions of the Companies Act, 2013, the Renewable Energy Business was demerged into the Company. The Hon'ble National Company Law Tribunal, Ahmedabad Bench ("NCLT") vide its Order dated January 25, 2021 approved the Composite Scheme of Arrangement (the "Scheme") between GFL Limited, Inox Renewables Limited and Inox Wind Energy Limited as detailed below:
a) Part A - Amalgamation of its wholly-owned subsidiary Inox Renewables Limited into GFL Limited w.e.f. April 1, 2020 and
b) Part B - Demerger of the Renewable Energy Business of GFL Limited into its wholly-owned subsidiary, Inox Wind Energy Limited we.f. July 1, 2020.
The aforesaid Scheme became effective w.e.f. February 9, 2021.