Schaeffler India Limited has announced that the Hon’ble National Company Law Tribunal (‘NCLT’), Mumbai has on September 7,2018, approved the Scheme of Amalgamation filed before it by the Company and INA Bearings India Private Limited.
The certified copy of the order of the NCLT, Mumbai is awaited.
NCLT, Chennai has already approved the Scheme of Amalgamation filed before it by LuK India Private Limited,vide its order dated June 13, 2018.
The scheme now has requisite approvals of both the NCLTs – Mumbai and Chennai.
The merger shall become operative on completionof certain legal formalities post receipt of the certified copy of order from NCLT, Mumbai.
