Piramal Finance filed a petition with the National Company Law Tribunal (NCLT), Mumbai Bench, on July 4, 2026, seeking sanction for its scheme of amalgamation with three subsidiaries. The move follows earlier intimations to the stock exchanges on April 18, May 12, and May 26, 2026, regarding the proposed merger. The scheme involves the amalgamation of Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited, and DHFL Investments Limited with Piramal Finance, which acts as the transferee company.

The petition, filed under Company Scheme Application No. C.A. (CAA)/84/ MB/ 2026, seeks approval under Sections 230 to 232 of the Companies Act, 2013. The amalgamation involves the transferor companies and their respective shareholders and creditors. Piramal Finance, formerly known as Piramal Capital & Housing Finance Limited, stated that the filing is a procedural step towards securing the necessary regulatory approvals for the scheme.

The filing was made under Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company requested the exchanges to take the disclosure on record. The scheme aims to consolidate the entities under Piramal Finance, pending the NCLT's final sanction.

Key Entities Involved

The petition was submitted by Bipin Singh, Company Secretary of Piramal Finance. The registered office of the company is located at Piramal Corporate Park in Kurla (West), Mumbai. The amalgamation scheme is subject to the approval of the Hon'ble NCLT and other regulatory authorities.

Piramal Finance Limited secured shareholder approval for all six resolutions at its 42nd Annual General Meeting held on July 2, 2026, including the declaration of a final dividend of ₹11 per equity share for the financial year ended March 31, 2026. The meeting, conducted via video conferencing, saw the adoption of audited financial statements and the re-appointment of key directors. The voting results, overseen by scrutinizer Bhaskar B. Upadhyay of N. L. Bhatia & Associates, were submitted to the stock exchanges on July 3, 2026.

The adoption of the audited financial statements for FY26 received 99.80% approval, with 16,62,34,432 votes cast in favour. The resolution to declare the final dividend of ₹11 per share on equity shares of face value ₹2 each was passed with 99.9999% of valid votes. Shareholders also sanctioned the re-appointment of Mr. Anand Piramal as Director, who retires by rotation, with 94.28% of votes in favour.

Key Resolutions and Voting Outcomes

The special resolutions regarding capital restructuring also received the necessary majority. The issue of Non-Convertible Debentures on a private placement basis was approved by 98.39% of shareholders, while the resolution for the conversion of loans into equity in case of an event of default passed with 98.39% support. Mr. Suhail Nathani was re-appointed as a Non-Executive Independent Director with 85.34% of votes in favour.

Meeting Details

Remote e-voting was facilitated from June 29, 2026, to July 1, 2026, with a total of 2,16,909 shareholders on the record date of June 25, 2026. The meeting was attended by 18 members from the promoter group and 61 public shareholders via video conferencing. The statutory auditors' report contained no qualifications, observations, or adverse remarks.