iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Hinduja Group Gets NCLT Nod for Healthcare & Realty Merger

3 Apr 2024 , 12:16 PM

The plan for the merger by absorption of Hinduja Realty Ventures Ltd. and Hinduja Healthcare Ltd., the unlisted companies of the Hinduja Group, has been authorized by the National Company Law Tribunal (NCLT). The order, which was delivered on March 28, is a significant step forward for Hinduja Group's organizational reorganization objectives.

As part of the merger plan, Hinduja Healthcare, which provides healthcare services, would combine with Hinduja Realty Ventures, which specializes in real estate development. The purpose of the merger is to combine the operations of the two companies into a single, more efficient business.

The shareholders of Hinduja Healthcare will get equity shares in Hinduja Realty Ventures as part of the merger. For every 10,000 equity shares of Hinduja Healthcare, the ratio for issuing shares is 29.3576 equity shares of Hinduja Realty Ventures. Nonetheless, the NCLT has mandated that Hinduja Realty Ventures not receive any compensation for any shares that it now owns.

The consideration of inter-company transactions and creditor arrangements are among the many facets of the merger that are outlined in the tribunal's judgment. According to the merger plan, any pending inter-party transactions involving the two companies will be regarded as intra-party transactions as of the designated date, automatically terminating any outstanding debts.

In terms of creditors, the order verifies the information as of March 15 regarding secured and unsecured debtors. It instructs the corporations to call creditors' meetings or secure consent affidavits as mandated by law.

Furthermore, copies and notices of the scheme must be delivered to all pertinent authorities, such as sectoral regulators, central government offices, and income tax authorities, giving them a 30-day window in which to provide comments.

The tribunal's ruling comes after the merger plan was examined to make sure it complied with all applicable laws and regulations. An important step forward in the merger procedure was made when the tribunal granted the application and deemed it disposed of after the corporations complied with all orders.

The logic of the plan, as stated in the tribunal's ruling, highlights the advantages of the combination for all parties involved. It emphasizes how the consolidation of company operations has led to enhanced competitiveness, cost savings, and operational efficiencies. In addition, it is anticipated that the plan will simplify management oversight and procedures, resulting in improved corporate governance.

Meetings of the equity shareholders of the two firms are planned on May 20 to discuss and approve the merger scheme against the backdrop of the order.

The merger scheme's acceptance by the tribunal bodes well for the combined entity's future expansion and advancement.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Hinduja Group
  • merger
  • NCLT
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
12 Apr 2024   |   01:37 PM
Images
12 Apr 2024   |   10:20 AM
Images
12 Apr 2024   |   10:16 AM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

closeIcon

Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp