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Auto parts maker Wheels India has said that NCLT (National Company Law Tribunal), Chennai Bench has given its nod for the amalgamation with Sundaram Hydraulics Ltd, engaged in the business of design, manufacture and distribution of hydraulic cylinders for the domestic and global mining and construction industry, and their respective shareholders as per the provisions of the Companies Act.
However, there are certain inadvertent typographical errors in the order for which the Company is making necessary requests with the NCLT to have it rectified. The Scheme will be effective from the date on which the certified copy of the sanction order of NCLT is filed with the Registrar of Companies, Chennai, the company said in a filing with stock exchanges.
The effective date will be communicated as and when the sanction order is filed and the Scheme becomes effective.
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