NCLT order on Merger of INM Technologies Private Limited, a wholly owned subsidiary with Shilpa Medicare Limited
SHILPAMED · price
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The NCLT Bengaluru Bench has sanctioned the scheme of amalgamation of INM Technologies Private Limited (a wholly owned subsidiary) with Shilpa Medicare Limited, with the order dated June 18, 2025 and uploaded on June 27, 2025. Since INM is wholly owned by Shilpa Medicare, no new shares will be issued and the appointed date has been revised to April 1, 2024 (from the originally proposed April 1, 2020). The transferor company (INM Technologies) is a loss-making entity, while Shilpa Medicare is profit-making. INM's subsidiary INM Nuvent Paints will become a wholly owned subsidiary of Shilpa Medicare. A penalty of ₹1,00,000 on the company and ₹50,000 each on the directors was imposed for prior non-compliance with Section 203 (delayed appointment of a whole-time company secretary). The scheme will come into effect only after the certified order is filed with the Registrar of Companies.
This is a simplification exercise that merges a loss-making wholly owned subsidiary into the listed parent with no share issuance or dilution. It should streamline operations and consolidate INM Nuvent Paints directly under Shilpa Medicare, though near-term tax outflows may be impacted by absorbing accumulated losses. Shareholders should see no change in shareholding or capital structure, with the stock unlikely to react materially.