Autoline Industries Limited proposes amalgamation of its wholly-owned subsidiary Autoline Design Software Limited into itself under Sections 230-232 of Companies Act 2013.
The scheme involves transfer of all assets/liabilities at book value without share issuance since subsidiary is fully owned, leading to subsidiary dissolution without winding up.
Rationale includes operational synergies, cost reduction, and improved financial strength with Appointed Date set for 1st April 2025 pending NCLT approval.
Accounting will follow pooling of interest method with all inter-company balances cancelled and employees transferred without service break.