Shyam Metalics & Energy receives NCLT approval for scheme of amalgamation

Shyam Metalics & Energy announced that the Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, vide its order dated 16 October 2026, has approved the Scheme of Amalgamation of Shree Venkateshwara Electrocast (SVEPL) into and with Shyam Sel and Power (SSPL), a flagship wholly-owned subsidiary of the Company.

The merger takes effect retroactively from the Appointed Date of 01 April 2024. Upon filing the certified copy of the NCLT order with the Registrar of Companies (ROC), West Bengal, SVEPL will be dissolved without winding up.

Speaking on the development, Brij Bhushan Agarwal, Chairman & Managing Director of Shyam Metalics & Energy, stated: The Hon'ble NCLT approval for the consolidation of Shree Venkateshwara Electrocast into Shyam Sel and Power Limited marks a significant operational step forward. By unifying our manufacturing and marketing setup for value-added products like aluminium foil, we drive operational flexibility, eliminate redundant administrative layers, and optimize working capital. Additionally, the statutory set-off of accumulated losses provides a substantial immediate tax savings, directly adding value to our earnings and cash flows.