Legal16 May 2024, 02:19 am
MAHINDRA & MAHINDRA LTD.: NCLT Approves Merger with Mahindra Heavy Engines, Mahindra Two Wheelers, and Trringo.com under Section 230-232 of the Companies Act
AI Summary
MAHINDRA & MAHINDRA LTD. (M&M) has announced that the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, has approved the Scheme of Merger by Absorption of Mahindra Heavy Engines Limited (MHEL), Mahindra Two Wheelers Limited (MTWL), and Trringo.com Limited (Trringo) with M&M. The merged companies' shareholders have been given certain conditions to fulfill for the effective implementation of this Scheme.
Key Highlights
- The National Company Law Tribunal (NCLT) approves the Scheme of Merger by Absorption of Mahindra Heavy Engines Limited (MHEL), Mahindra Two Wheelers Limited (MTWL), and Trringo.com Limited (Trringo) with Mahindra and Mahindra Limited (M&M)
- The Scheme will become effective upon the fulfillment of certain conditions, including approval from the Directorate of Industries, Maharashtra Industrial Development Corporation, and respective requisite majorities of shareholders
- The Transferor Companies (MHEL, MTWL, and Trringo) and the Transferee Company (M&M) must file the certified copy of the NCLT order under Section 230-232 with the Registrar of Companies, Maharashtra at Mumbai