Shyam Metalics' Shyam Sel and Power wins NCLT sanction for SVEPL merger, flags Section 72A tax shield
Shyam Sel and Power Ltd, a wholly-owned subsidiary, received NCLT Kolkata sanction dated October 16, 2026 for merging Shree Venkateshwara Electrocast Pvt Ltd into it, effective April 1, 2024.
By ScoutQuest · · 1 min read
- NCLT sanction date
- October 16, 2026
- Merger effective date
- April 1, 2024
- Share issuance
- no fresh equity shares will be issued
- Release
- Deal / acquisition
📉 Under Section 72A of the Income-tax Act, 1961, Shyam Sel and Power can absorb and set off Shree Venkateshwara Electrocast's accumulated carried-forward business losses and unabsorbed depreciation, which the company says brings immediate cash-flow savings to the combined entity.
📌 Because Shree Venkateshwara Electrocast was already a 100% wholly-owned subsidiary of Shyam Sel and Power, no fresh equity shares will be issued and the existing share capital of Shree Venkateshwara Electrocast will stand cancelled, the company says.
📌 All assets, liabilities, contracts and workforce of Shree Venkateshwara Electrocast vest in the merged Shyam Sel and Power, and the company says it will be dissolved without winding up after the NCLT order is shared with the Registrar of Companies, West Bengal.
💰 Chairman Brij Bhushan Agarwal says unifying the manufacturing and marketing setup for aluminium foil drives operational flexibility, eliminates redundant administrative layers and optimises working capital.
Also from Shyam Metalics and Energy
Board meeting on October 31, 2026 to approve unaudited Q2 and half-year results
22 Oct 2026
NCLT Kolkata approves amalgamation of Shree Venkateshwara Electrocast into Shyam Sel and Power
22 Oct 2026
Shyam Metalics hit a 52-week high
16 Oct 2026
More numbers
- Stake held by Shyam Sel and Power in Shree Venkateshwara Electrocast100%
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