Jubilant Industries has officially announced the merger of HSSS Investment Holding Private Limited, KBHB Investment Holding Private Limited, SSBPB Investment Holding Private Limited (Amalgamating company) with Jubilant Industries Limited (JIL) and further amalgamation of JIL with Jubilant Agri and Consumer Products Limited (Resulting/Amalgamated Company). The proposed merger will allow shareholders of JIL to directly hold shares in the operating company (Resulting/Amalgamated Company), resulting in greater operational efficiencies, a reduction in management overlaps, and a decrease in the compliance requirements and associated costs of managing multiple companies. Additionally, it will lead to a reduction in overheads, administrative, managerial, and other expenses, while optimizing resource utilization through the consolidation of activities. As part of this merger, JIL shareholders will receive 1 share of Jubilant Agri and Consumer Products Limited for every 1 share held in JIL.
What do you think about this order by the NCLT? Feel free to use this thread to discuss.