Intimation of certified true copy of NCLT order
SHILPAMED · price
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Shilpa Medicare Limited has received the certified copy of the NCLT Bengaluru order dated 18 June 2025, approving the amalgamation of its wholly owned subsidiary INM Technologies Private Limited into Shilpa Medicare. The appointed date for the merger has been set as 1 April 2024, changed from the originally proposed 1 April 2020. Since INM Technologies is a wholly owned subsidiary, no new shares will be issued to shareholders, and no SEBI or stock exchange NOC was required. The transferor company will stand dissolved upon filing of the certified copy with the Registrar of Companies. The order also includes a penalty of Rs 1 lakh on Shilpa Medicare and Rs 50,000 each on the relevant directors for a past non-compliance with Section 203 (appointment of whole-time company secretary) in the subsidiary. Subsidiary INM Nuvent Paints will become a direct wholly owned subsidiary of Shilpa Medicare as part of the arrangement.
This is a simplification step for Shilpa Medicare since INM Technologies (a loss-making entity) being a wholly owned subsidiary means the merger has no impact on shareholding, EPS, or share price. The merger is largely an administrative consolidation and may have some tax implications given the accumulated losses in the subsidiary. No action required from existing shareholders.