NCLT approves merger of JK Paper's wholly owned subsidiaries with co
This story was originally published at 18:25 IST on 3 February 2026
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NEW DELHI – The Ahmedabad bench of the National Company Law Tribunal Tuesday approved the merger of JK Paper Ltd.'s wholly owned subsidiaries JKPL Utility Packaging Solutions Pvt. Ltd., Securipax Packaging Pvt. Ltd., and Horizon Packs Pvt. Ltd., with the parent company. The tribunal also approved the reduction and conversion of redeemable preference shares held by JK Paper in Enviro Tech Ventures Ltd. into an unsecured loan.
The tribunal also gave the go-ahead to demerge a part of Enviro Tech's business into PSV Agro Products Ltd. Thereafter, the residual business of Enviro Tech related to paper and packaging, including the shares held in The Sirpur Paper Mills Ltd., will be merged with JK Paper, the tribunal said in its order. Enviro Tech is a subsidiary of JK Paper. PSV Agro is not related to JK Paper or its arms, though the promoter group companies of JK Paper hold 0.3% equity shares in PSV Agro.
According to the tribunal's order, JKPL Utility, Securipax Packaging, Horizon Packs, and JK Paper operate in similar lines of business, and the boards of the respective companies have decided to consolidate all packaging, manufacturing, and trading entities under JK Paper. The proposed consolidation of business operations through amalgamation will therefore lead to more efficient utilisation of capital assets, supply chain, and customer relationships, thereby creating a stronger base for future growth, the merger application said.
The reduction and conversion of redeemable preference shares would enable JK Paper to reflect the true nature of investment in Enviro Tech and facilitate its demerger, the application said.
In December 2024, the board of JK Paper, one of India's largest paper and packaging solutions companies, had approved a composite scheme of arrangement to consolidate and streamline the company's structure. The scheme will be effective upon filing of the certified copy of the order of the tribunal with the Registrar of Companies, JK Paper said in an exchange filing Tuesday.
Tuesday, shares of JK Paper ended 1.0% higher at INR 328.30 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Saji George Titus
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