Phoenix Mills Subsidiary Merger Approved

The Phoenix Mills Ltd announced that its subsidiary, SGH Realty Private Limited, and a step-down subsidiary, Truevalue Infrabuild Private Limited, have approved a Scheme of Amalgamation. Truevalue Infrabuild will be amalgamated with SGH Realty. The rationale includes simplifying the business structure, reducing overheads, optimizing resource utilization, and enhancing shareholder value. The transaction is subject to regulatory approvals from the Regional Director/National Company Law Tribunal. The transferor company, Truevalue Infrabuild, has a paid-up capital of ₹24.128 Lacs and a net worth of ₹3.70 Lacs as of September 30, 2026, with nil turnover. The transferee company, SGH Realty, has a paid-up capital of ₹1.001 Lacs, a net worth of ₹11139.54 Lacs, and a turnover of ₹10639.14 Lacs as of the same date. Both entities are related parties, but the transaction is clarified as not falling under Section 188 of the Companies Act, 2013, as per MCA circulars.