NCLT approves Ashika Group amalgamation, renames flagship entity

The National Company Law Tribunal (NCLT) Kolkata Bench, on November 14, 2025, approved the composite scheme of amalgamation for Ashika Credit Capital Limited. This scheme involves the amalgamation of Ashika Commodities & Derivatives Private Limited (ACDPL) into Ashika Global Securities Private Limited (AGSPL), and subsequently, AGSPL into Ashika Credit Capital Limited (ACCL), effective from April 1, 2025. Following the amalgamation, ACCL will be renamed ‘ASHIKA GLOBAL SECURITIES LIMITED’.

Shareholder meetings for Applicant No. 1 and No. 2, and unsecured creditors of Applicant No. 1 and No. 3, were dispensed with due to 100% consent. However, a meeting of equity shareholders for Applicant No. 3 (Ashika Credit Capital Limited) will be held within 90 days from the order pronouncement via virtual mode, with voting conducted through remote e-voting.

The NCLT also noted that the Reserve Bank of India granted its 'No Objection' to the scheme on March 17, 2025. The scheme outlines a swap ratio where 6,726 equity shares of face value INR 10 each of the amalgamated company will be issued for every 10,000 equity shares of face value INR 10 each held in the amalgamating company.