Minda Industries Limited announces merger of four wholly owned subsidiary in MIL
Gurugram May 17, 2019 – Minda Industries limited (‘MIL’), the flagship company of UNO MINDA Group has today announced that the board has approved amalgamation of four domestic wholly owned subsidiaries (WOS) under MIL namely Minda Rinder Pvt. Ltd., Minda Distribution & Pvt. Ltd., Minda Auto Components Ltd. and MJ Castings Ltd.
The rationale behind this merger is to create a stronger standalone entity to pursue the next leg of growth. .This Scheme of amalgamation is subject to necessary statutory and regulatory approvals including the approval of the jurisdictional National Company Law Tribunals. The estimated implementation time-frame is expected by end of financial year. The merger is expected to drive a lot of operational, strategic synergies and create value for all stakeholders.