Shyam Metalics and Energy543299NCLT order update

NCLT Kolkata approves amalgamation of Shree Venkateshwara Electrocast into Shyam Sel and Power

NCLT Kolkata Bench has approved the scheme of amalgamation of Shree Venkateshwara Electrocast Private Limited into Shyam Sel and Power Limited, a wholly owned subsidiary of the company.

By ScoutQuest · Thu 22 Oct 2026, 11:39 AM IST · 2 min read

Tribunal Approval: NCLT Kolkata Bench approved amalgamation of Shree Venkateshwara Electrocast Private Limited into Shyam Sel and Power Limited
Order Pronounced Date: 16 October 2026
Appointed Date: 1 April 2024

What the order says

The National Company Law Tribunal, Kolkata Bench has sanctioned the scheme of amalgamation under which Shree Venkateshwara Electrocast Private Limited (the transferor company) merges into Shyam Sel and Power Limited (the transferee company). The order was pronounced on 16 October 2026, and the entire undertaking of the transferor company moves to the transferee company with effect from the appointed date of 1 April 2024.

Where this sits in the group

Shyam Sel and Power Limited, the transferee company, is a wholly owned subsidiary of the listed company.
The transferor company is itself a wholly owned subsidiary of the transferee company: 90% of its equity shares are held directly by the transferee company and the remaining 10% through its nominees.
So this is a consolidation one level below the listed entity.

Key terms recorded in the order

No shares are being issued under the scheme, and therefore no share exchange ratio or valuation report is required.
The boards of both companies passed resolutions adopting the scheme at their meetings held on 28th October 2025.
Meetings of shareholders and creditors of the transferor company were dispensed with: all shareholders gave written consents by way of affidavits, and the rights of creditors are not affected by the scheme.
The Income Tax Department issued its No Objection to the proposed scheme.
As on 31.03.2025 the transferor company had 3 equity shareholders, NIL preference shareholders, 3 secured creditors and 55 unsecured creditors.

The appointed date

An application was shared to change the appointed date in the scheme from 1st April 2025 to 1st April 2024, which was allowed by the Tribunal by an order dated 27th March 2026. The appointed date recorded in the sanction order is therefore 1 April 2024.

What happens next

The scheme becomes effective only upon the update of the certified copy of the NCLT order with the Registrar of Companies, West Bengal. That step is the trigger for the merger to take effect.

What a retail investor can take away

The transaction is inside the group: the merging entity was already a wholly owned subsidiary of the transferee company, which in turn is a wholly owned subsidiary of the listed company. The shareholding of the listed company does not change because of this scheme.
The scheme folds the transferor company's business into the transferee company with accounting effect from the appointed date of 1 April 2024.
The order records that the rights of creditors are not affected by the scheme.

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