Uno Minda Board Approves Merger with Subsidiary Minda Onkyo India

Uno Minda Limited's Board of Directors has approved a Scheme of Amalgamation for merging its subsidiary, Minda Onkyo India Private Limited (MOIPL), with itself. This decision, made after recommendations from the Audit Committee and Independent Directors, is subject to regulatory approvals, including from the National Company Law Tribunal (NCLT) and shareholders. The merger aims to streamline operations and is considered in the best interest of all stakeholders. The companies are primarily engaged in manufacturing and selling automotive components. The transaction is deemed at arm's length, with consideration determined by an independent valuer.