Merger13 Apr 2026, 07:51 pm
Pitti Engineering: NCLT approves amalgamation scheme
AI Summary
Pitti Engineering Ltd (PEL) announced that the National Company Law Tribunal (NCLT), Hyderabad Bench, has approved the dispensation of meetings for its equity shareholders, secured creditors, and unsecured creditors. This approval pertains to the Scheme of Amalgamation of Pitti Industries Private Limited (PIPL) and Dakshin Foundry Private Limited (DFPL) with Pitti Engineering Limited. The NCLT order was pronounced on April 10, 2026, and uploaded on April 13, 2026. This development marks a crucial step forward in the amalgamation process, as per Sections 230 to 232 of the Companies Act, 2013.
Key Highlights
- NCLT Hyderabad approved the amalgamation scheme.
- Dispensation of shareholder and creditor meetings granted.
- Pitti Industries Pvt Ltd and Dakshin Foundry Pvt Ltd to merge with PEL.
- This is a significant step in the corporate restructuring process.