NCLT approves Idea Cellular-Vodafone India merger

The National Company Law Tribunal (NCLT) has approved Idea Cellular's proposed merger with Vodafone Mobile Services and Vodafone India, The Economic Times reports. “The scheme is genuine, and in the interest of the creditors and the shareholders”, said the Ahmedabad bench of NCLT. Vodafone is awaiting approval from tribunal’s Mumbai bench. 

The planned merger has already bben approved by capital markets regulator Securities Exchange Board of India (Sebi), shareholders and the Competition Commission of India (CCI). They will now have to get clearance from the Department of Telecommunications (DoT). The merger is expected to complete by June this year.