NCLT approves Paradeep phosphates amalgamation with Mangalore chemicals

The National Company Law Tribunal (NCLT), Cuttack Bench, has approved the Scheme of Arrangement between Mangalore Chemicals & Fertilizers Limited (Transferor Company) and Paradeep Phosphates Limited (Transferee Company), effective Sept. 26, 2025. This scheme involves the amalgamation of Mangalore Chemicals & Fertilizers with Paradeep Phosphates.

The amalgamation will be effective from the Appointed Date of April 1, 2024. All assets and liabilities of the Transferor Company as of this date will be transferred to Paradeep Phosphates. In consideration, Paradeep Phosphates will issue 187 equity shares of face value INR 10 each, credited as fully paid up, for every 100 fully paid-up equity shares of INR 10 of Mangalore Chemicals & Fertilizers Limited.

Regulatory bodies, including the Income Tax Department and the Competition Commission of India, have issued no objections. The scheme was supported by 99.9984% of equity shareholders and 100% of unsecured creditors by credit value. The Transferee Company is directed to file the Schedule of Assets with the Tribunal within 15 days and the order with the Registrar of Companies within 30 days of issuance of the certified copy.