Merger5 May 2026, 02:44 pm
Kriti Industries Approves Amalgamation of Kriti Auto
AI Summary
Kriti Industries (India) Limited has approved the amalgamation of its wholly-owned subsidiary, Kriti Auto & Engineering Plastics Private Limited, through a merger under the Companies Act, 2013. The decision was made in a board meeting on May 5, 2026, following the audit committee's recommendation on May 4, 2026. The amalgamation is subject to regulatory and statutory approvals and aims to consolidate the group structure, reduce costs, and achieve economies of scale. No cash consideration is involved as Kriti Auto is a wholly-owned subsidiary.
Key Highlights
- Kriti Industries approves merger of Kriti Auto & Engineering Plastics.
- The amalgamation aims to simplify the group structure and reduce costs.
- No cash consideration is involved in the merger.
- The merger is subject to regulatory and statutory approvals.
- Kriti Auto's turnover as of March 31, 2026, was ₹974.45 Lacs.