Kirloskar Ferrous Industries Ltd Announces Scheme of Arrangement and Merger with Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited
Kirloskar Ferrous Industries Ltd (KFIL) has announced a scheme of arrangement and merger with its wholly owned subsidiaries, Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL). The National Company Law Tribunal (NCLT) has passed an order on 17 March 2026, directing certain actions including dispensation from holding meetings of equity shareholders, unsecured creditors, and creditors of OEPL, AESPL, and KFIL. The scheme is under Section 230 - 232 of the Companies Act, 2013 and other applicable provisions. The rationale for the scheme includes consolidation of businesses, streamlining of the current holding structure, better administration and cost optimization, leveraging of synergies, and greater integration and flexibility for KFIL.
Key Highlights
- Kirloskar Ferrous Industries Ltd (KFIL) to merge with Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL)
- The merger is under Section 230 - 232 of the Companies Act, 2013 and other applicable provisions
- NCLT has passed an order on 17 March 2026 for the merger
- The rationale for the merger includes consolidation of businesses, streamlining of the current holding structure, better administration and cost optimization, leveraging of synergies, and greater integration and flexibility for KFIL
- Upon sanction of the Scheme by the NCLT, OEPL and AESPL will stand dissolved without winding up