NCLT approves Hatsun Agro Product's amalgamation with Milk Mantra Dairy

The NCLT Cuttack Bench, in an order dated September 26, 2025, dispensed with the requirement for meetings of shareholders and unsecured creditors of Milk Mantra Dairy Private Limited. This decision was based on the fact that all equity shareholders and the sole preference shareholder had provided written consent, and over 90% in value of the unsecured creditors had also consented to the Scheme of Amalgamation.

The amalgamation scheme, effective April 1, 2025, aims to consolidate group structure, achieve business synergies, and enhance financial strength. Hatsun Agro Product Limited, incorporated in 1986, holds the entire share capital of Milk Mantra Dairy Private Limited, incorporated in 2009. Both companies are involved in dairy product businesses.

As of March 31, 2025, Milk Mantra Dairy Private Limited reported an authorized share capital of ₹9,50,00,000 and a paid-up share capital of ₹4,77,54,280. It had no secured creditors and 1,365 unsecured creditors. Hatsun Agro Product Limited's authorized share capital stood at ₹40,00,00,000, with a subscribed and paid-up share capital of ₹22,27,85,835 as of the same date.