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Informist, Tuesday, Jul. 7, 2026

 

NEW DELHI – The Chennai bench of the National Company Law Tribunal has approved India Radiators Ltd.'s merger with Mercantile Ventures Ltd. According to the merger scheme, India Radiators will be dissolved without winding up. The tribunal said that the scheme of amalgamation seemed beneficial to the companies and would not be in any way detrimental to the interest of its shareholders. In the absence of any other objections by parties, it sanctioned the merger between the companies, the tribunal said.

 

Shareholders of India Radiators will be entitled to receive 10 fully paid-up equity shares of INR 10 each in Mercantile Ventures for every 36 fully paid-up equity shares of INR 10 each held in India Radiators, said the merger scheme. The permanent employees of India Radiators will become employees of Mercantile Ventures without any break or interruption in service, said the merger documents. The appointed date for the merger shall be Jan. 1, 2025.

 

The merger will help in reducing the administrative and operational costs and Mercantile Ventures will be able to operate and run the business or operations more effectively and economically resulting in better turnover and profits, said the scheme. The merger will help Mercantile Ventures use the combined managerial and operating strength, to build a wider capital and financial base and to promote and secure overall growth of the business, said the scheme of amalgamation. 

 

India Radiators was incorporated in 1949 and operates in renting of properties in Chennai. Mercantile Ventures is engaged in the business of acquiring immovable properties for letting them out on lease or mounting them for resale. 

 

At 1349 IST, shares of Mercantile Ventures Ltd. were up 0.8% at INR 25.00 on the National Stock Exchange.  End

 

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

 

Reported by Surya Tripathi

Edited by Avishek Dutta

 

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