Key Developments and Chronology

  • Board of Directors of CIE Automotive India Limited approved the Scheme of Merger on 23rd April 2026
  • Company Scheme Application CA(CAA)-115/MB/2026 was filed before the National Company Law Tribunal (NCLT), Mumbai Bench
  • NCLT issued its order on 24th September 2026 directing the company to serve notices to shareholders and creditors
  • The company commenced dispatch of notices to shareholders and creditors on 8th October 2026

Scheme Details

The Scheme involves merger by absorption of CIE Aluminium Casting India Limited (a wholly-owned subsidiary) into CIE Automotive India Limited. Key aspects:

  • No shares will be issued as consideration for the amalgamation
  • Entire issued share capital of the Transferor Company held by the Transferee Company shall be cancelled
  • No reorganization of share capital of the Transferee Company
  • No compromise of any nature between the Transferee Company and its shareholders or creditors

NCLT Directions and Dispensations

  • NCLT dispensed with the requirement of convening meeting of shareholders of the Transferee Company
  • NCLT dispensed with the requirement of convening meeting of creditors of the Transferee Company
  • Rationale for dispensations: Transferor Company is wholly-owned, no new shares being issued, no compromise or diminution of liability, creditors' rights unaffected, and post-amalgamation assets sufficient to discharge creditor claims

Stakeholder Representation Process

  • Shareholders and creditors have 30 days from date of receipt of notice to submit representations to NCLT
  • Copies of representations must be simultaneously served upon the company
  • Failure to submit representations will be presumed as having no objections to the Scheme

Document Availability

  • Tribunal Order dated 24th September 2026 and the Scheme are available on company website: https://www.cie-india.com/documents-and-disclosure.html#Schemes
  • Documents also accessible via QR code provided in the notice

Financial and Operational Impact

As explicitly disclosed in the document:

  • No adverse effect on Equity Shareholders, Key Managerial Personnel, Promoter and Non-Promoter Shareholders
  • No adverse effect on unsecured creditors of the Transferee Company
  • Expected benefits: Increased operational efficiencies, economies of scale, and synergetic integration of businesses
  • No financial impact quantified in terms of monetary values