Ashok Leyland Limited has announced that its material subsidiary, Hinduja Leyland Finance Limited, has received approval for its scheme of merger. The merger involves Hinduja Leyland Finance Limited (‘Transferor Company’) being absorbed by NDL Ventures Limited (‘Transferee Company’). This corporate restructuring was approved by the unsecured creditors and equity shareholders of Hinduja Leyland Finance Limited in meetings held on July 30, 2026. The merger is effective from April 01, 2026.
Hinduja Leyland Finance Merger Gets Approval
Ashok Leyland Limited (Ashok Leyland) has disclosed a significant corporate restructuring event concerning its material subsidiary, Hinduja Leyland Finance Limited (HLFL). The company has announced that HLFL’s scheme of merger by absorption with NDL Ventures Limited (NDL) has been approved by the requisite majorities.
Creditor and Shareholder Approval
In separate meetings convened on July 30, 2026, both the unsecured creditors (including NCD Creditors) and the equity shareholders of Hinduja Leyland Finance Limited voted to approve the proposed merger. The resolution passed by both groups confirmed their consent to the Scheme of Merger by Absorption of HLFL into NDL Ventures Limited. The voting results indicate a strong majority in favor of the amalgamation.
Scheme Details and Effective Date
The approved scheme involves the merger of Hinduja Leyland Finance Limited (identified as the ‘Transferor Company’) into NDL Ventures Limited (identified as the ‘Transferee Company’). The merger is set to take effect from April 01, 2026, referred to as the ‘Appointed Date’. This move is subject to the final sanction from the Hon’ble National Company Law Tribunal (NCLT) and other necessary regulatory approvals.
Scrutinizer’s Report
The detailed results of the voting process, including remote e-voting and in-meeting voting, were compiled and presented in consolidated scrutinizer’s reports. These reports confirmed that the resolution to approve the Scheme of Merger was passed with the required majority by both the unsecured creditors and equity shareholders.
Future Outlook
The merger aims to streamline operations and leverage synergies between the entities. The successful approval from creditors and shareholders marks a critical step towards the completion of this strategic amalgamation, which is expected to contribute to the overall growth and financial strength of the consolidated entity.
Source: BSE
