NCLT Chennai Advances Indo National-Helios Merger with Official Liquidator Acceptance

Indo National has made significant progress in its proposed merger with Helios Strategic Systems Limited, as the National Company Law Tribunal (NCLT) Chennai Bench advances the hearing process with positive developments.

Merger Proceedings Update

The NCLT Chennai Bench conducted a hearing on December 10, 2025, regarding the Scheme of Amalgamation between Helios Strategic Systems Limited (the Transferor Company) and Indo National Limited (the Transferee Company). This amalgamation scheme is being processed under Sections 230-232 of the Companies Act, 2013.

Parameter:	Details
Hearing Date:	December 10, 2025
Tribunal:	NCLT Chennai Bench
Legal Framework:	Sections 230-232, Companies Act 2013
Next Hearing:	January 13, 2026

Official Liquidator's Acceptance

During the proceedings, the Official Liquidator recorded the acceptance of the memo submitted in respect of the reports filed by the Company and confirmed that there are no objections to the proposed amalgamation. This represents a crucial milestone in the merger approval process, as the Official Liquidator's acceptance removes a significant regulatory hurdle.

Next Steps in Approval Process

The NCLT has directed that the petition be listed for further consideration and hearing on January 13, 2026. This scheduling indicates the tribunal's systematic approach to reviewing the merger documentation and ensuring all regulatory requirements are met.

Regulatory Compliance

Indo National Limited has maintained transparency throughout the process, filing regular updates with BSE Limited and National Stock Exchange of India Limited. The company's regulatory filing confirms the positive outcome of the December 10 hearing and the Official Liquidator's acceptance of the submitted reports.

Stock Exchange Details:	Information
BSE Scrip Code:	504058
NSE Symbol:	NIPPOBATRY
Company Secretary:	J. Srinivasan
Filing Date:	December 10, 2025

This merger development represents significant progress for both companies and their stakeholders. The Official Liquidator's acceptance and the scheduled progression to the next hearing phase demonstrate the merger's alignment with regulatory requirements and legal frameworks.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	+1.25%	-1.13%	-12.39%	-26.93%	+30.63%

Indo National , known for its Nippo brand, has announced a significant change in its top management. S. Muthar Basha, the company's Chief Operating Officer (COO), has tendered his resignation, citing personal reasons.

Resignation Details

Basha's last working day is scheduled for March 14, 2024. However, the company retains the option to determine an earlier cessation date if deemed necessary. This flexibility allows Indo National to manage the transition process according to its operational needs.

COO's Departure

In his resignation email, S. Muthar Basha expressed his decision to move on from the company. Despite his departure, Basha extended his best wishes to the Nippo brand, particularly noting its upcoming 50th-year milestone. This gesture suggests an amicable separation and Basha's continued goodwill towards the company.

Impact on Indo National

The resignation of a key executive like the COO can have significant implications for a company's operations and strategic direction. Indo National will likely need to initiate a search for a suitable replacement to ensure a smooth transition and maintain operational efficiency.

Looking Ahead

As Indo National navigates this change in leadership, stakeholders will be keen to observe how the company manages the transition period. The approaching 50th anniversary of the Nippo brand, as mentioned by the departing COO, could serve as a rallying point for the company to reaffirm its market position and strategic goals in the coming years.

The company has not yet announced any details regarding the succession plan or the search for a new COO. Shareholders and industry observers will likely be watching closely for further updates on how Indo National plans to fill this crucial leadership role.