Kirloskar Industries Limited (KFIL), a material subsidiary, has received approval from the National Company Law Tribunal (NCLT), Mumbai Bench, for the Scheme of Arrangement and Merger by Absorption of Oliver Engineering Private Limited ('OEPL') and Adicca Energy Solutions Private Limited ('AESPL') with KFIL. The NCLT pronounced its order approving the scheme on June 2, 2026, and it was uploaded to its website on June 3, 2026. This merger follows an earlier communication on April 17, 2026, regarding the scheme. The appointed date for the merger is April 1, 2025. Oliver Engineering Private Limited is primarily engaged in the business of ferrous castings and machining, while Adicca Energy Solutions Private Limited focuses on turnkey projects for solar power systems and consultancy for renewable energy systems. Kirloskar Ferrous Industries Limited is involved in manufacturing pig iron, grey iron castings, tubes, and steel, catering to sectors like tractors, automotives, and diesel engines. The rationale for the merger includes consolidating businesses for long-term sustainability and growth, streamlining the holding structure to reduce the number of companies and regulatory compliances, better administration and cost optimization, leveraging synergies for pooling of resources and achieving economies of scale, and greater integration to strengthen KFIL's position in terms of asset base, revenues, and service range. Since OEPL and AESPL are wholly owned subsidiaries of KFIL, no consideration is required to be discharged by KFIL. The issued and paid-up capital of the transferor companies will stand cancelled. The NCLT has deemed the scheme unopposed after considering reports from the Regional Director, Official Liquidator, and the Assistant Commissioner, CGST Division. The transferor companies, Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited, are dissolved without winding up.
