Ashok Leyland announced that its material subsidiary, Hinduja Leyland Finance Limited (HLFL), has received approval from the Competition Commission of India (CCI) for its proposed Scheme of Merger by Absorption. This scheme involves merging HLFL (Transferor Company) into NDL Ventures Limited (formerly NXTDIGITAL Limited, the Transferee Company). The approval, dated February 17, 2026, is a significant step in the corporate restructuring process previously communicated to exchanges on November 25, 2025.
Merger Scheme Receives Regulatory Clearance
Ashok Leyland informed the stock exchanges regarding a critical update concerning its material subsidiary, Hinduja Leyland Finance Limited. The announcement, dated February 19, 2026, confirms that the Competition Commission of India (CCI) has approved the proposed Scheme of Merger by Absorption.
This scheme involves the amalgamation of Hinduja Leyland Finance Limited (referred to as the “Transferor Company”) into NDL Ventures Limited (formerly known as NXTDIGITAL Limited, designated as the “Transferee Company”).
Key Dates and Approvals
The initial communication detailing the Board’s approval of the Scheme, as per Sections 230 to 232 of the Companies Act, 2013, was made on November 25, 2025. Following this, the CCI reviewed the proposed combination.
The formal approval from the CCI was granted during its meeting held on February 17, 2026. This clearance is recorded under Registration No. C-2025/12/1363, pursuant to sub-section (1) of section 31 of the Competition Act, 2002.
This update serves as a follow-up to previous intimations made by the company on March 16, 2022, August 17, 2022, November 25, 2022, August 11, 2025, and November 26, 2025, relating to the ongoing corporate reorganization process.
Source: BSE
