ABCL completes merger of subsidiary Aditya Birla Finance with itself

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ABCL completes merger of subsidiary Aditya Birla Finance with itself - Business Standard

Quick Summary:

In March last year, the decision to merge Aditya Birla Finance with the parent entity was taken by the respective boards, subject to receipt of various statutory and regulatory approvals.

This follows the order of the National Company Law Tribunal (NCLT), Ahmedabad Bench, dated March 24, and the scheme of amalgamation is effective from April 1, Aditya Birla Capital Ltd (ABCL) said in a statement.

The board has also approved the appointments of Vishakha Mulye as the MD and CEO and Rakesh Singh as the executive director of the amalgamated entity, the statement said, adding that these appointments are subject to regulatory and other requisite approvals.