NCLT Ahmedabad nods merger of Aditya Birla Commodities with Aditya Birla Money

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Exchanges in India on Monday, Aditya Birla Money Ltd – Stocks & Securities arm of Aditya Birla Group said of having got nod from National Company Law Tribunal (NCLT) Ahmedabad to merge Aditya Birla Commodities  Broking Ltd with the company.

Regarding proposed amalgamation of Aditya Birla Commodities Broking Limited (ABCBL), a wholly owned subsidiary of the Company, with the Company i.e. Aditya Birla Money Limited, we wish to inform you that the National Company Law Tribunal Bench at Ahmedabad has on 14th November 2018, delivered the Order sanctioning the Scheme of Amalgamation of Aditya Birla Commodities Broking Limited (ABCBL) with the Company, Aditya Birla Money Limited, the filing read.

Announcement from the company of having got nod for scheme of arrangement had hit the exchanges, after the trading session for the day had ended on Monday.

It will be indeed interesting to see, how the investors & traders reciprocate to the development, when the Bourses in India reopen for the usual trading business on Tuesday.