General Updates

September 25, 2026 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sir / Madam, Sub.: Update on the Scheme of Amalgamation We refer to our letter dated October 30, 2025, informing about the proposed Scheme of Amalgamation of wholly owned subsidiaries of Adani Power Limited (“APL”), viz. (i) Adani Power Dahej Limited (“APDL”); (ii) Kutchh Power Generation Limited (“KPGL”) (a step down wholly owned subsidiary of APL, as 100% equity shares of KPGL are held by APDL); (iii) Resurgent Fuel Management Limited (“RFML”); (iv) Mahan Fuel Management Limited (“MFML”); (v) Orissa Thermal Energy Limited (“OTEL”); (vi) Korba Power Limited (“KPL”); (vii) Anuppur Thermal Energy (MP) Private Limited (“ATEMPPL”); (viii) Mirzapur Thermal Energy (UP) Private Limited (“MTEUPPL”); (ix) Emberiza Infra Park Limited (“EIPL”); and (x) Vidarbha Industries Power Limited (“VIPL”) with Adani Power Limited (the “Scheme”). The Scheme was filed before the Hon’ble National Company Law Tribunal, Bench at Ahmedabad (“Hon’ble NCLT Ahmedabad”) (for wholly owned subsidiaries mentioned as (i) to (ix) above) and also at Hon’ble National Company Law Tribunal, Bench at Mumbai (“Hon’ble NCLT Mumbai”) for VIPL. Further to the above, vide our intimation dated August 5, 2026, we had informed that the Hon’ble NCLT, Ahmedabad Bench, had sanctioned the Scheme of Amalgamation vide its order dated August 4, 2026, approving the amalgamation of the wholly owned subsidiaries referred to at serial nos. (i) to (ix) above with the Company. We would now like to inform that the Hon’ble NCLT, Mumbai Bench, has also sanctioned the said Scheme of Amalgamation vide its order dated September 24, 2026, approving the amalgamation of the wholly owned subsidiary referred to at serial no. (x) above, namely Vidarbha Industries Power Limited, with the Company. As a result, the Scheme has received the requisite approvals from both the Hon’ble NCLT, Ahmedabad Bench and the Hon’ble NCLT, Mumbai Bench. A copy of the order, which has been uploaded by Hon’ble NCLT Mumbai on its website on September 25, 2026, is enclosed herewith for reference. The Appointed Date of the Scheme is April 1, 2025. The Scheme will be effective upon completion of the steps, as laid out in the approved Scheme. We will update the exchanges once the Scheme becomes effective. Adani Power Limited Tel +91 79 2656 7555 “Adani Corporate House” Fax +91 79 2555 7177 Shantigram, Near Vaishno Devi Circle, info@adani.com S. G. Highway, Khodiyar, www.adanipower.com Ahmedabad-382421, Gujarat India CIN : L40100GJ1996PLC030533 Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421 We request you to take the above submission on your record. Thanking You. Yours faithfully, For Adani Power Limited Puneet Bansal Company Secretary Enclosed: As above. Adani Power Limited Tel +91 79 2656 7555 “Adani Corporate House” Fax +91 79 2555 7177 Shantigram, Near Vaishno Devi Circle, info@adani.com S. G. Highway, Khodiyar, www.adanipower.com Ahmedabad-382421, Gujarat India CIN : L40100GJ1996PLC030533 Registered Office: “Adani Corporate House”, Shantigram, Near Vaishno Devi Circle, S. G. Highway, Khodiyar, Ahmedabad-382421 NATIONAL COMPANY LAW TRIBUNAL COURT-V, MUMBAI BENCH 4. C.P.(CAA)/71(MB)2026 C.A.(CAA)/283(MB)2025 IN THE MATTER OF Vidarbha Industries Power Limited U/s 230-232 of the Companies Act, 2013 Order Delivered on 24.09.2026 CORAM: SH. VINAY GOEL SH. CHARANJEET SINGH GULATI MEMBER (J) MEMBER (T) Appearance through VC/Physical/Hybrid Mode: For the Petitioner: For the Respondent: ORDER C.P.(CAA)/71(MB)2026: - The above C.P.(CAA)/71(MB)2026 is listed for pronouncement of the order. The same is pronounced in open court, vide a separate order. Sd/- Sd/- VINAY GOEL CHARANJEET SINGH GULATI Member (Judicial) Member (Technical) //Zakir// NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH – V C.P. (CAA)/71/MB/C-V/2025 C.A. (CAA)/283/MB/C-V/2025 In the matter of the Companies Act, 2013; In the matter of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and Rules framed thereunder; In the matter of Scheme of Amalgamation Adani Power Dahej Limited (the “First Transferor Company”) and Kutchh Power Generation Limited (the “Second Transferor Company”) and Resurgent Fuel Management Limited (“Third Transferor Company”) and Mahan Fuel Management Limited (the “Fourth Transferor Company”) and Orissa Thermal Energy Limited (the “Fifth Transferor Company”) and Korba Power Limited (the “Sixth Transferor Company”) and Anuppur Thermal Energy (MP) Private Limited (the “Seventh Transferor Company”) and Mirzapur Thermal Energy (UP) Private Limited (the “Eighth Transferor Company”) and Emberiza Infra Park Limited (the “Ninth Transferor Company”) and Vidarbha Industries Power Limited (the “Tenth Transferor Page 1 of 21 C.P. (CAA)/71/MB/C-V/2026 Company”) with Adani Power Limited (the “Transferee Company”) and their respective Shareholders and Creditors (“Scheme”). Vidarbha Industries Power Limited ) CIN: U23209MH2005PLC158371 ) a company incorporated under the ) Companies Act, 1956 having its ) registered office at Shop No. 16, ) Floor 1, Plot 8, Khatau Building, ) Alkesh Dinesh Modi Road, Bombay ) Stock Exchange, Fort, Mumbai - ) … Tenth Transferor Company 400001, Maharashtra. ) Adani Power Limited ) CIN: L40100GJ1996PLC030533 ) a company incorporated under the ) Companies Act, 1956 having its ) registered office at Adani Corporate ) House, Shantigram, Near Vaishno ) Devi Circle, S. G. Highway, ) … Transferee Company Khodiyar, Ahmedabad- 382 421, ) Gujarat. Order pronounced on: 24.09.2026 Coram: Hon’ble Sh. Vinay Goel, Hon’ble Sh. Charanjeet Singh Gulati, Member (Judicial) Member (Technical) Appearances: For the Applicant Companies: Adv. Sandeep Singvi, Adv. Rahul Kamerkar, Adv. Aparajit R. Jha, Adv. Varun Agarwal. Page 2 of 21 C.P. (CAA)/71/MB/C-V/2026 For the RD-I West: Mr. Altap Shaikh ICLS, AD ORDER 1. The present Scheme is a Scheme of Amalgamation of Vidarbha Industries Power Limited (“Petitioner Company” or “Tenth Transferor Company”) and Adani Power Limited (“Transferee Company”) and their respective shareholders and creditors (“the Scheme”), under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Act”) and Rules framed thereunder. 2. The Learned Counsel for the Petitioner Company submits that the present application has been filed before this Tribunal solely by the Petitioner/ Tenth Transferor Company, it being the only entity having its registered office in the State of Maharashtra. The remaining nine Transferor Companies, along with the Transferee Company, having their registered offices in the State of Gujarat, have filed their application before the concerned Bench of this Tribunal. 3. The Board of the Tenth Transferor Company and the Transferee Company approved the said Scheme of Amalgamation by passing their respective Resolutions on 30th October 2025 which are annexed to the Company Scheme Application. 4. The Appointed Date of the Scheme is 1st April 2025. 5. The Petitioner Company has its registered office at Mumbai, Maharashtra, and therefore, this Bench has jurisdiction to entertain the present application. 6. The Petitioner Company submits that, pursuant to the order dated 12.05.2026 passed by this Tribunal in C.A. (CAA)/283/MB/C-V/2025, the Petitioner Company has duly complied with all the directions issued by this Tribunal. It is further submitted that notices were issued to the Page 3 of 21 C.P. (CAA)/71/MB/C-V/2026 concerned statutory authorities as directed, and publication of the notice of the Company Scheme Petition if so directed, was effected in the prescribed newspapers in accordance with the said order. The Petitioner Company has also filed the necessary affidavit evi [Showing first 8,000 characters — download PDF for full document]