The National Company Law Tribunal (NCLT), Chennai Bench, has approved the first motion application for the amalgamation of ADI BPO Services Limited with MPS Limited . The order, dated July 02, 2026, allows the scheme under Sections 230 to 232 of the Companies Act, 2013, facilitating the merger to simplify the group structure and reduce administrative costs. The Tribunal has dispensed with the requirement to convene meetings for the shareholders and creditors of the transferor company, ADI BPO Services Limited, due to the receipt of necessary consents.

However, the NCLT has directed the convening of meetings for the equity shareholders and unsecured creditors of MPS Limited, the transferee company. These meetings are scheduled for Saturday, August 22, 2026. The equity shareholders' meeting will commence at 10:00 A.M. (IST), followed by the unsecured creditors' meeting at 11:30 A.M. (IST). The proceedings will be held at Block-B6, 3rd Floor, Gateway Office Parks, No.16, G.S.T Road, Perungalathur, Tambaram, Chennai – 600063, or through Video Conferencing (VC) and Other Audio Visual Means (OAVM).

The Tribunal has appointed Mr. S.C. Jain as the Chairperson for the meetings, with a fee of ₹1,00,000, and Mr. Kishore as the Scrutinizer, entitled to a fee of ₹50,000. The quorum for the equity shareholders' meeting is fixed at 30, while the unsecured creditors' meeting requires a quorum of 8. Notices for the meetings will be sent at least 30 days in advance, and advertisements will be published in the 'Business Standard' (All India Edition) and 'Dina Malar' Tamil (Tamil Nadu Edition).

Key Meeting Details

The scheme provides for the issuance of 1,16,90,615 equity shares of MPS Limited, with a face value of INR 10 each, to the equity shareholders of ADI BPO Services Limited in proportion to their holdings. The existing shareholding of the transferor company in the transferee company will be cancelled and extinguished upon the issuance of these shares. The appointed date for the amalgamation is the closing hours of April 1, 2025, subject to NCLT approval.

The Board of Directors of both companies approved the proposed scheme on July 18, 2025. The statutory auditors have certified compliance with accounting standards, and a valuation report from Finvox Analytics recommended the fair share exchange ratio. Both the National Stock Exchange (NSE) and BSE Limited have issued 'no adverse observation' letters regarding the scheme. The amalgamation is expected to eliminate inter-company transactions and provide flexibility for future growth opportunities.

MPS Limited has accepted the resignation of Ms. Deepti Singh from the position of Chief People Officer and Senior Management Personnel. The resignation, effective from the close of business hours on 09 October 2026, was tendered due to personal reasons.

The disclosure was submitted to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Raman Sapra, Company Secretary and Compliance Officer, confirmed that the necessary details, including the resignation letter, were submitted as part of the regulatory filing.

Resignation Details

The following table outlines the key particulars of the change in senior management personnel:

Ms. Deepti Singh submitted her resignation via email on 10 July 2026. In her communication, she stated that 09 October 2026 would be her last working day.