NCLT Mumbai Bench approved the amalgamation of step-down subsidiaries Choice Wealth and Arete Capital on May 11, 2026.
The merger involves share exchange ratio of 92 ACSPL shares for every 100 CWPL shares.
Rationale includes operational synergies, cost efficiencies, and consolidation of mutual fund distribution businesses.
Transaction qualifies as related party but is exempt under SEBI Listing Regulation 23(5)(c) for wholly-owned subsidiaries.