Ashok Leyland Limited has received a major regulatory clearance for its subsidiary's merger plans, with the Competition Commission of India (CCI) approving the proposed combination involving Hinduja Leyland Finance Limited and NDL Ventures Limited.

CCI Grants Merger Approval

The Competition Commission of India, at its meeting held on February 17, 2026, approved the merger of Hinduja Leyland Finance Limited with NDL Ventures Limited (formerly known as NXTDIGITAL Limited). The approval was granted under sub-section (1) of section 31 of the Competition Act, 2002, bearing Registration No. C-2025/12/1363.

Merger Structure and Timeline

The transaction involves a Scheme of Merger by Absorption where Hinduja Leyland Finance Limited, serving as the transferor company, will merge into NDL Ventures Limited, the transferee company. The Board of Directors had previously approved this scheme on November 25, 2025, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

Regulatory Compliance and Documentation

Hinduja Leyland Finance Limited, being a material subsidiary of Ashok Leyland Limited, filed the requisite intimation pursuant to Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The parent company has maintained transparency through multiple communications dated March 16, 2022, August 17, 2022, November 25, 2022, August 11, 2025, and November 26, 2025.

Corporate Structure Impact

This merger represents a significant corporate restructuring initiative involving Ashok Leyland's material subsidiary. The CCI approval removes a key regulatory hurdle in the merger process, allowing the companies to proceed with the next phases of the combination under the approved scheme.

The successful completion of regulatory approvals demonstrates the companies' commitment to compliance with competition law requirements and positions them for the implementation of the merger structure as originally envisioned by their respective boards of directors.

Ashok Leyland Limited has announced its participation in an upcoming investor conference, informing stock exchanges through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Conference Details

The commercial vehicle manufacturer will participate in the Chasing Growth Kotal Investor Conference 2026, scheduled for February 24, 2026. The event represents an opportunity for the company to engage with various funds and investors in a structured format.

Meeting Format and Structure

The conference will feature hourly meetings throughout the day, providing structured interaction opportunities between the company and attending investors. The extended timeframe from 10:00 to 17:00 hrs IST suggests multiple engagement sessions planned during the event.

Presentation and Documentation

Ashok Leyland has specifically noted that no presentation is intended to be made during the conference. This indicates the meetings will likely focus on direct discussions and Q&A sessions rather than formal presentations. The company has marked the presentation link as "Not applicable" in its regulatory filing.

Regulatory Compliance

The announcement was made through proper channels to both NSE (scrip code: ASHOKLEY) and BSE (scrip code: 500477) on February 19, 2026. Company Secretary N Ramanathan signed the communication, ensuring compliance with stock exchange disclosure requirements. The filing serves to keep stock exchanges and company members informed about the scheduled investor engagement activities.