2 hrs ago
NCLT Approves Nerofix Merger With Kansai Nerolac Paints
A tribunal in Mumbai approved a merger between Kansai Nerolac Paints and its subsidiary, Nerofix.
Nerofix makes adhesives and construction chemicals.
Kansai Nerolac mainly makes paint.
After the merger, these businesses will operate under one company.
Nerofix will close as a separate legal company without going through liquidation.
Its property, agreements and responsibilities will move to Kansai Nerolac.
Because Kansai Nerolac already owns Nerofix, no new shares will be given to Nerofix shareholders.
The companies expect the new structure to make management and administration simpler.
Mumbai’s NCLT bench approved Nerofix Private Limited’s merger with parent company Kansai Nerolac Paints Limited.
The merger brings Nerofix’s adhesive and construction chemicals business under the paint company.
Nerofix will be dissolved without winding up, while its assets, contracts, licences and obligations transfer to Kansai Nerolac.
The scheme has an appointed date of April 1, 2025, and will not require issuing new shares.
The companies said the merger could simplify administration, reduce duplicated functions and improve resource use.
- Who
- Kansai Nerolac Paints Limited and its wholly owned subsidiary, Nerofix Private Limited, with approval from the Mumbai bench of the National Company Law Tribunal.
- What
- The tribunal approved Nerofix’s merger into Kansai Nerolac Paints, transferring the adhesive and construction chemicals business to the paint company.
- Where
- The approval was issued by the Mumbai bench of the National Company Law Tribunal.
- When
- The scheme was sanctioned on Thursday, September 24; its appointed date is April 1, 2025.
- Why
- The companies proposed the merger to combine resources, simplify management and administration, remove duplicated functions and support future growth.
Key facts
- Approving body
- Mumbai bench of the National Company Law Tribunal
- Merged company
- Nerofix Private Limited
- Parent company
- Kansai Nerolac Paints Limited
- Business transferred
- Adhesives and construction chemicals
- Appointed date
- April 1, 2025
- Merger structure
- Nerofix will be dissolved without winding up
- Share issuance
- No new shares will be issued to Nerofix shareholders
Sources
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