Page 294 - Index

Standalone
49. Bridge To India Energy Private Limited
49.1 Merger of Bridge to India Energy Private Limited with Crisil Limited
The Board of Directors of the Company at their meeting held on October 16, 2024, has approved the Scheme of
Amalgamation (‘Scheme’) for merger of its wholly-owned subsidiary, Bridge To India Energy Private Limited with the
Company, pursuant to Sections 230-232 of the Companies Act, 2013. The Scheme is subject to the approval of National
Company Law Tribunal and other requisite statutory approvals.
49.2 Acquisition of Bridge To India Energy Private Limited
The Company has completed the acquisition of 100% stake in ‘Bridge To India Energy Private Limited’ (Bridge To India)
on September 30, 2023. Bridge To India is a renewable energy (RE) consulting & knowledge services provider to financial
and corporate clients in India. The acquisition will augment Crisil’s existing offerings and bolster our market positioning
in the renewable energy space. The transaction is at a total consideration of C 721 lakh. Accordingly, Bridge To India
became a wholly owned subsidiary of the Company with effect from the said date.
50. Additional regulatory information required by schedule III:
i) The Company does not have any benami property held in its name. No proceedings have been initiated on or are
pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988
(45 of 1988) and Rules made thereunder.
ii) The Company has not been declared wilful defaulter by any bank or financial institution or other lender or
government or any government authority.
iii) The Company has complied with the requirement with respect to number of layers as prescribed under section
2(87) of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 2017.
iv) The Company has not traded or invested in crypto currency or virtual currency during the year.
v) The Company did not have any transactions with companies struck off under Section 248 of the Companies Act,
2013 or Section 560 of Companies Act, 1956 during the year.
vi) The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.
vii) The Company has not been sanctioned working capital limits by banks or financial institutions on the basis of
security of current assets at any point of time during the year.
viii) No funds have been advanced or loaned or invested (either from borrowed funds or securities premium or any
other sources or kind of funds) by the Company to or in any person(s) or entity(ies), including foreign entities (‘the
intermediaries’), with the understanding, whether recorded in writing or otherwise, that the intermediary shall,
whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Company (‘the Ultimate Beneficiaries’) or provide any guarantee, security or the like on behalf
the Ultimate Beneficiaries.
ix) No funds have been received by the Company from any person(s) or entity(ies), including foreign entities (‘the
Funding Parties’), with the understanding, whether recorded in writing or otherwise, that the Company shall,
whether directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Funding Party (‘Ultimate Beneficiaries’) or provide any guarantee, security or the like on behalf
of the Ultimate Beneficiaries.
x) The Company has not revalued its property, plant and equipment (including right of use assets) or intangible
assets or both during the current or previous year.
292 Annual Report 2024