Mercantile Ventures Ltd: NCLT Approves Amalgamation of Subsidiaries
Mercantile Ventures Ltd announced that the Hon'ble National Company Law Tribunal (NCLT) has sanctioned the Scheme of Amalgamation between its subsidiary, Walery Security Management Limited (Transferor Company), and i3 Security Private Limited (Transferee Company), a wholly-owned subsidiary. The appointed date for the scheme is January 01, 2024. This amalgamation is an internal restructuring aimed at consolidating operations, streamlining management, and optimizing resource utilization. The transferor company, which had a 'Nil' turnover in FY26, will be dissolved without winding up. The transferee company had a turnover of ₹5087.67 lakhs in FY26. The scheme does not involve any change in the shareholding pattern of the listed company.
Key Highlights
- NCLT sanctions amalgamation of two subsidiaries: Walery Security Management and i3 Security.
- Amalgamation aims to consolidate operations and optimize resource utilization.
- Transferor company had 'Nil' turnover; Transferee company had ₹5087.67 lakhs turnover in FY26.
- No change in the shareholding pattern of the listed company.
- Appointed date for the scheme is January 01, 2024.
Price Impact
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