NCLT New Delhi sanctioned the Scheme of Amalgamation for five wholly owned subsidiaries into Vipul Limited, effective from the Appointed Date of 1 April 2022.
The Scheme aims to consolidate operations, reduce compliance complexity, and achieve cost synergies by merging Abhipra Trading, Graphic Research, United Buildwell, Vineeta Trading, and Vipul Eastern Infracon.
Regulatory authorities including ROC, Official Liquidator, and Income Tax Department raised observations, which were addressed by the company, with the Transferee Company undertaking all liabilities.
The order clarifies that the Scheme does not require prior RERA approval and that all tax and legal proceedings against the transferor companies will continue against Vipul Limited post-amalgamation.