The India Cements Limited announced that the Scheme of Amalgamation involving four wholly-owned subsidiaries has been sanctioned by the NCLT, Chennai Bench. The Scheme became effective on March 28, 2026, with an Appointed Date of January 1, 2025. Consequently, all assets and liabilities of ICLFSL, ICLIL, ICLSL, and ICIL have been transferred to The India Cements, and the transferor companies are dissolved without winding up.
Scheme of Amalgamation Update
The India Cements Limited has formally updated stakeholders regarding the completion of its Scheme of Amalgamation. This corporate action involves the amalgamation of four wholly-owned subsidiaries: ICL Financial Services Limited (“ICLFSL”), ICL International Limited (“ICLIL”), ICL Securities Limited (“ICLSL”), and India Cements Infrastructures Limited (“ICIL”). The Scheme operates under Sections 230 – 232 of the Companies Act, 2013.
NCLT Approval and Effective Date
The Company confirms that it has received the certified copy of the order from the Hon’ble National Company Law Tribunal (NCLT), Chennai Bench, which sanctions the Scheme. Following the filing of the Order with the Registrar of Companies in Chennai, Tamil Nadu, the Scheme of Amalgamation officially became effective from March 28, 2026.
Appointed Date and Transfer of Assets
The designated Appointed Date for the Scheme is retrospectively set as 1st January, 2025. As of this date, all assets and liabilities pertaining to the four Transferor Companies (ICLFSL, ICLIL, ICLSL, and ICIL) stand fully transferred to The India Cements Limited. Furthermore, all four amalgamating companies are dissolved consequently, without undergoing the process of winding up.
Stock Exchange Filings
This crucial update was simultaneously communicated to both the BSE Limited (Scrip Code: 530005) and the National Stock Exchange of India Limited (Scrip Code: INDIACEM) for necessary information and record purposes.
Source: BSE
