SHYAMMETL : SUBSIDIARY GETS NCLT NOD FOR MERGER OF SHREE VENKATESHWARA

• NCLT Kolkata Bench order dated Oct 16, 2026 approves amalgamation of Shree Venkateshwara Electrocast (SVEPL) into Shyam Sel and Power (SSPL), flagship wholly-owned subsidiary • Merger effective retroactively from appointed date of April 1, 2024; SVEPL to be dissolved without winding up after filing certified order with ROC West Bengal • SVEPL was already a 100% wholly-owned subsidiary of SSPL, so no fresh equity shares will be issued and SVEPL's existing share capital stands cancelled • Rationalizes and centralizes the group's aluminium foil portfolio, aiding operational efficiency, supply chain coordination and working capital • Section 72A set-off lets SSPL absorb SVEPL's carried-forward losses and unabsorbed depreciation, yielding tax savings and cash-flow benefits at the 115BAA rate • Income Tax Department issued NOC for the scheme on May 15, 2026

Shyam Metalics and Energy Ltd

Open attachment

← Back to feed