NCLT Directs Meetings for Avinya Batteries Merger with PPAP Automotive

PPAP Automotive Limited has received an order from the National Company Law Tribunal (NCLT), New Delhi Bench, regarding the merger of its wholly-owned subsidiary, Avinya Batteries Limited. The NCLT has dispensed with the requirement of convening a meeting of Avinya Batteries' shareholders but has directed meetings for the secured and unsecured creditors of Avinya Batteries. Additionally, meetings for the shareholders, secured creditors, and unsecured creditors of PPAP Automotive Limited are also mandated. The company will proceed with these meetings as per the tribunal's order and will provide further updates.