NCLT approves Mangalore chemicals amalgamation with paradeep phosphates

Mangalore Chemicals & Fertilizers Limited announced on September 26, 2025, that the National Company Law Tribunal (NCLT), Bengaluru Bench, approved its Composite Scheme of Arrangement with Paradeep Phosphates Limited. The order was dated September 24, 2025. The scheme involves Mangalore Chemicals (transferor company) amalgamating with Paradeep Phosphates (transferee company).

The scheme outlines an exchange ratio where 187 fully paid-up equity shares of INR 10 each of the transferee company will be issued for every 100 fully paid-up equity shares of INR 10 each of the transferor company. The transfer of identified shares will occur at a price of INR 144 per identified share, with an aggregate cash consideration of INR 418.14 crores. The appointed date for the amalgamation is April 1, 2024.

The NCLT confirmed that all objections from the Regional Director, Registrar of Companies, Official Liquidator, and Income Tax Department have been addressed, clearing the path for the scheme's approval. The transferor company’s undisputed statutory dues of INR 278.48 lakhs have been paid, and the transferee company undertakes to settle any future disputed statutory dues.