NDL Ventures Limited has informed the Exchange regarding 'Receipt of No Objection Certificate (NOC) from Reserve Bank of India (RBI) forproposed merger of Hinduja Leyland Finance Limited (HLF) into NDL Ventures Limited(NDL)'.
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NDL Ventures Limited has received a No Objection Certificate (NOC) from the Reserve Bank of India (RBI) for the proposed merger of Hinduja Leyland Finance Limited (HLF) into NDL Ventures. This is a key regulatory clearance required for the scheme to move forward, as HLF is an RBI-registered NBFC. With the RBI nod in hand, the company will now proceed with the remaining statutory steps, including filings and obtaining any further consents, before implementing the scheme. The merger, once effective, would effectively transform NDL Ventures into a financial services entity, with HLF's auto finance business becoming its core operation.
This is a significant positive milestone for the merger, removing a major regulatory hurdle and signaling that the deal is firmly on track. For shareholders, this brings NDL Ventures closer to becoming the listed parent of a large Hinduja group NBFC, though the swap ratio and final structure will be the key things to watch next.