NCLT Clears Merger of Nirmal Lifestyle and Oberoi Realty
NEW DELHI: The Mumbai bench of the National Company Law Tribunal (NCLT) has sanctioned the merger of Nirmal Lifestyle Realty with Oberoi Realty, according to a regulatory filing from the company. This merger will take effect once the NCLT order is filed with the Registrar of Companies. Nirmal Lifestyle Realty will be dissolved without winding up as part of this merger. Since the transferor company is wholly owned by the listed entity, there will be no shares issued under the scheme, resulting in the cancellation of its entire share capital. The objective of this merger is to streamline the group’s…