For Quick Alerts
For Daily Alerts

    Aditya Birla Capital's Two Firms Apply To NCLT For Merger

    By Religare

    Aditya Birla Capital Ltd (ABCL) said today that two of its units are in the process of merging and they will file application before the Allahabad bench of NCLT for integration.

    In a regulatory filing, ABCL said: "Aditya Birla Money Limited (ABML), subsidiary of the company and Aditya Birla Commodities Broking Limited (ABCBL), a step-down subsidiary of the company (and wholly owned subsidiary of ABML) are in the process of filing applications before the National Company Law Tribunal, Ahmedabad Bench, for approval of a Scheme of Amalgamation for the merger of ABCBL into ABML.".

    Aditya Birla Capital's Two Firms Apply To NCLT For Merger
    ABCL said that post the merger of Forward Markets Commission (FMC) with SEBI, its move will enable integration of both the security and commodity broking into a single entity thereby facilitating ease of doing business.

    "The scheme would consolidate the investments within the transferee company (ABML) to simplify the complexity of the corporate structure and eliminate the duplication in administrative cost and multiple record-keeping, achieve operational efficiency and thus resulting in cost savings," it said in a regulatory filing.

    The authorised share capital of ABCBL was at Rs 7 crore as on December 2017 while that of ABML was at Rs 25 crore.

    Read more about: nclt
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more