NCLT Order approving the Composite Scheme of Arrangement under section 230-232 of Companies Act, 2013. Please refer the attached file herewith for further details.
MERCURYEV · price
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The National Company Law Tribunal (NCLT), Ahmedabad has approved the Composite Scheme of Arrangement for the merger of EV Nest Private Limited (Transferor) into Mercury Ev-Tech Limited (Transferee) on September 18, 2025. The appointed date for the merger is April 1, 2023. Since EV Nest is a wholly-owned subsidiary of Mercury Ev-Tech, no new shares will be issued and the share capital of the Transferor Company will stand cancelled upon the scheme becoming effective. The merger aims to achieve operational efficiency, business synergies, and stakeholder value consolidation. Mercury Ev-Tech will need to file the certified order with the Registrar of Companies within 30 days and pay stamp duty and other compliance charges.
This is a simplification merger of a wholly-owned subsidiary into the listed parent, so there is no change in shareholding pattern for existing shareholders and no share swap ratio. The stock price is unlikely to see major movement on this news since no new equity is being created. The merger should streamline operations and reduce compliance costs over time.