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Informist, Wednesday, Jun. 3, 2026

 

--NCLT OKs Oliver Engineering, Adicca Energy merger with Kirloskar Ferrous 

 

By Surya Tripathi

 

NEW DELHI – The Mumbai bench of the National Company Law Tribunal has approved Oliver Engineering Pvt. Ltd.'s and Adicca Energy Solutions Pvt. Ltd.'s merger with Kirloskar Ferrous Industries Ltd. Oliver Engineering and Adicca Energy were wholly-owned subsidiaries of Kirloskar Ferrous Industries. 

 

The tribunal said that the scheme of amalgamation appeared to be fair and reasonable. The merger scheme is not in violation of any provisions of law and is not contrary to public policy, considering that no objection has so far been received from any other authority or creditors or members or any other stakeholders, said the tribunal. Oliver Engineering and Adicca Energy will be dissolved without winding up, it said. 

 

According to the merger scheme, no shares of Kirloskar Ferrous shall be issued for the exchange of the holding of the company in its wholly-owned subsidiaries and the issued and paid-up capital of Oliver Engineering and Adicca Energy will stand cancelled, without any further act, instrument or deed. Since Oliver Engineering and Adicca Energy are wholly-owned subsidiaries of Kirloskar Ferrous, no consideration is required to be or shall be discharged by the latter pursuant to merger, said the scheme.

 

The merger will help in the consolidation of businesses of Oliver Engineering, Adicca Energy and Kirloskar Ferrous to enable long-term sustainability and growth of the merged businesses, said the scheme of amalgamation. The merger would aid in streamlining of the current holding structure which would lead to a reduction in the number of companies and regulatory compliances thereof, it said.

 

Further, the merger would help in better administration and cost optimisation from more focused operational efforts, standardisation and simplification of business processes, and the elimination of duplication, and rationalisation of administrative expenses as well as compliance, said the merger documents. The merger would aid in greater integration and flexibility to Kirloskar Ferrous and will allow the company to strengthen its position in terms of asset base, revenues and service range, it said.

 

Oliver Engineering is primarily engaged in the business of ferrous castings and machining. Adicca Energy is involved in the business of executing turnkey projects for solar power systems and provides technical consultancy for planning and installing solar and other renewable energy systems. Kirloskar Ferrous deals in the business of manufacturing pig iron, grey iron castings, tubes and steel and caters to industry sectors such as tractors, automotives and diesel engines. 

 

At 1158 IST, the shares of Kirloskar Ferrous Industries Ltd. were down 1.3% at INR 425.90 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Deepshikha Bhardwaj

 

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