Date: October 09, 2026
Board Meeting Outcomes
The Ministry of Corporate Affairs (MCA) has issued an order dated October 09, 2026, regarding the first motion application for the Scheme of Amalgamation between HSCC (India) Limited (Transferor Company) and NBCC (India) Limited (Transferee Company).
The Scheme was approved by the Board of Directors of HSCC (India) Limited on July 14, 2026, and by NBCC (India) Limited on April 10, 2026.
The MCA order provides the following directions:
- Meetings of equity shareholders of both companies are dispensed with (HSCC due to consents by affidavit from all equity shareholders, NBCC because it is a wholly-owned subsidiary and no share issuance is required)
- Meetings of secured creditors of both companies are dispensed with as there are nil secured creditors as of March 31, 2026 (certified by S.R.Dinodia & Co. LLP for HSCC and D K Chhajer & Co. for NBCC)
- Meetings of unsecured creditors are dispensed with, but individual notices must be sent to unsecured creditors above ₹1,00,00,000 threshold in each company
- Notices must be dispatched via email/speed post/registered post allowing 30 days for objections
Other Operational / Legal / Strategic Disclosures
The companies must issue notices to the following authorities under Rule 8(2) of Companies (Compromises, Arrangement and Amalgamation) Rules, 2016:
- Regional Director (Northern Region I), Ministry of Corporate Affairs, New Delhi
- Registrar of Companies, National Capital Territory of Delhi
- Official Liquidator, Delhi
- Jurisdictional Income Tax Authorities
- Ministry of Housing and Urban Affairs, Government of India
- Securities and Exchange Board of India (SEBI)
- National Stock Exchange of India Limited and BSE Limited
- Multiple State Real Estate Regulatory Authorities (Uttar Pradesh, Bihar, West Bengal, Rajasthan, Kerala)
- Other Statutory Authorities mentioned in the scheme
The companies must file a Confirmation Petition after compliance with all directions.
The order specifies that it is issued as a special case under specific facts and circumstances and shall not be treated as a precedent.
KMP / Board / Auditor Changes
Representatives present at the hearing held on September 23, 2026 included:
- Shri Anjeev Kumar Jain, Director (Finance), NBCC (India) Ltd
- Smt. Deepti Gambhir, ED & Company Secretary, NBCC (India) Ltd
- Shri Sandeep Srivastava, GM (Finance), NBCC (India) Limited
- Smt. Ruchi Gupta, AGM (Company Secretary), NBCC (India) Ltd
- Shri Hrishikesh Kumar, Sr.Ep (Finance) I (CEO) HSCC (India) Ltd
- Shri Saurabh Srivastava, CGM (Finance) I (CFO), HSCC (India) Ltd
- Shri Deepak Mishra, AM (Finance), HSCC (India) Limited
- Shri Vivek Tyagi, DGM (Legal) HSCC (India) Ltd
- Legal representatives from Chandhiok & Mahajan and SBICAPS
Financial Results
The Transferor Company and Transferee Company submitted audited financial statements for the financial years 2023-24, 2024-25, and 2025-26.
The statutory auditors of both companies provided certificates confirming that the accounting treatment proposed in the Scheme is in conformity with section 133 of the Companies Act, 2013.