NCLT allows first motion for merger of ADI BPO Services with MPS Limited
MPSLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
NCLT Chennai passed first motion order on July 2, 2026 allowing the scheme of amalgamation of ADI BPO Services with MPS Limited. NCLT dispensed with meetings for ADI BPO shareholders and creditors and MPS secured creditors. Meetings ordered for MPS equity shareholders (22 Aug, 10 AM) and unsecured creditors (22 Aug, 11:30 AM). MPS will issue 1,16,90,615 equity shares to ADI BPO shareholders. Both belong to the same group; merger simplifies structure. Appointed date April 1, 2025.
Procedural step towards merger completion; simplifies group structure. No change to public shareholding; dilution from about 1.17 crore new MPS shares.