CIE Automotive India Dispatches Merger Notice to Shareholders
CIE Automotive India Ltd has commenced dispatching notices to its shareholders and creditors regarding the proposed Scheme of Merger by Absorption of its wholly-owned subsidiary, CIE Aluminium Casting India Limited. This merger, approved by the Board of Directors on April 23, 2026, aims to consolidate businesses, enhance operational efficiencies, and achieve economies of scale. The National Company Law Tribunal (NCLT), Mumbai Bench, vide its order dated September 24, 2026, dispensed with the need for a shareholder meeting for the transferee company, as no new shares are being issued and there is no reorganisation of share capital. Shareholders are directed to submit any representations within thirty days of receiving the notice.
Key Highlights
- Notice dispatched to shareholders and creditors for merger scheme.
- Merger involves absorption of wholly-owned subsidiary CIE Aluminium Casting.
- NCLT dispensed with shareholder meeting for transferee company.
- No new shares to be issued; no adverse effect on shareholders.
- Shareholders have 30 days to submit representations.
Price Impact
More from CIEINDIA