M M Forgings has filed the certified copy of the National Company Law Tribunal (NCLT) order sanctioning its amalgamation with D V S Industries Private Limited, marking the completion of the merger process. The order was filed with the Registrar of Companies, Tamil Nadu, in the prescribed Form INC-28 on 09 July 2026. Consequently, the transferor company, D V S Industries Private Limited, stands dissolved with immediate effect following the sanction.

The filing was made pursuant to the applicable provisions of the Companies Act, 2013 and Clause 3.5 of the Scheme of Amalgamation. M M Forgings had previously intimated the exchanges regarding the developments on 29 June 2026. The submission to the Registrar of Companies formalises the tribunal's approval, integrating the operations of D V S Industries Private Limited into M M Forgings.

Key Details of the Filing

The amalgamation scheme has now received the necessary judicial and regulatory approvals. With the filing of the certified true copy of the NCLT order, the corporate action moves to its final stage of implementation. The dissolution of D V S Industries Private Limited is effective as per the tribunal's sanction.

The National Company Law Tribunal (NCLT), Chennai Bench, has approved the scheme of amalgamation of DVS Industries Private Limited, a wholly-owned subsidiary, with M M Forgings Limited , the holding company. The order, pronounced on 19 June 2026, sanctions the merger under Sections 230 to 232 of the Companies Act, 2013. The appointed date for the amalgamation is 1 April 2024, and the scheme will become effective upon filing the certified order copy with the Registrar of Companies.

The amalgamation aims to achieve synergies in operations, integrate business processes, and reduce administrative and regulatory compliance costs. The transferor company, DVS Industries Private Limited, will be dissolved without winding up once the order is filed with the Registrar of Companies. The entire share capital of the transferor company, held by the transferee company, will be cancelled automatically without the issuance of new shares.

Key Approvals and Conditions

The scheme received necessary clearances from statutory authorities, including the Regional Director, Southern Region, and the Income Tax Department. The Income Tax Department conveyed no objection subject to conditions, including the transfer of tax liabilities, set-off of carried-forward losses under Section 72A of the Income Tax Act, 1961, and the continuation of pending proceedings by the transferee company. The department also directed the surrender of a duplicate Permanent Account Number (PAN) held by the transferor company.

The Official Liquidator also provided no objection, subject to specific undertakings by the companies regarding employee protection and compliance with accounting standards. The companies agreed to account for the amalgamation using the Pooling of Interest Method as per Ind AS 103 and to eliminate inter-company balances as of the appointed date.

Financial and Capital Structure Implications

As per the scheme, the authorized share capital of the transferor company, amounting to ₹2,50,00,000, will be combined with the authorized share capital of the transferee company. Consequently, the authorized share capital of M M Forgings Limited will be revised to ₹53,50,00,000, divided into 5,35,00,000 equity shares of ₹10 each. The Memorandum of Association of the transferee company will be amended accordingly to reflect this change.

The table below summarizes the key financial details of the authorized share capital:

Implementation and Compliance

The transferee company is required to file the amended Memorandum of Association with the Registrar of Companies to record the enhancement of authorized capital. All properties, rights, interests, liabilities, and duties of the transferor company will vest in the transferee company without further act or deed. The companies have undertaken to comply with all provisions of the Companies Act, 2013, and to ensure that no automatic modification of the scheme occurs without prior approval from the NCLT.