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NCLT clears merger of firms with India Cements

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The National Company Law Appellate Tribunal (NCLAT) has cleared the amalgamation of Trinetra Cement Ltd. and Trishul Concrete Products Ltd. with The India Cements Ltd.

While dismissing the appeal filed by the minority shareholders of Trinetra Cement Limited, NCLAT has upheld the order passed by a Division Bench of the National Company Law Tribunal here in Chennai on Aprile 20 sanctioning the scheme of amalgamation and arrangement between Trinetra Cement Ltd. and Trishul Concrete Products Ltd. with The India Cements Ltd.

“The merger has resulted in bringing all cement assets under one roof - The India Cements - and helping the company becoming a stronger and effective entity (composite unit), carrying on business activities more effectively, resulting in optimum utilisation of resources with the scope for enhancing the overall stakeholders’ value in the long-run,’’ said N. Srinivasan, vice-chairman and managing director of The India Cements, addressing shareholders at the annual general body meeting here here recently.

Trinetra (formerly Indo-Zinc Ltd.) was incorporated on March 12, 1987. It was converted into a public limited company in 1992.

Trishul Concrete has a capacity to make 12.3 lakh cubic meters of ready-mix, which is marketed under Coromandel Concrete.

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Printable version | Jan 19, 2020 2:20:39 PM | https://www.thehindu.com/business/nclt-clears-merger-of-firms-with-india-cements/article19699617.ece

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