Spark Minda Group to amalgamate 6 companies  

It expects this to be  beneficial to the interests of the shareholders, creditors and employees, and as such amalgamation would create greater synergies among the businesses

Autocar Pro News Desk By Autocar Pro News Desk calendar 01 Oct 2018 Views icon11578 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Domestic component major, Spark Minda, Ashok Minda Group has announced that the Board of Directors of Minda Corporation have discussed and approved the audit committees report on amalgamation of domestic Indian wholly owned subsidiary companies.

As per the decision the amalgamation will see Minda SAI, Minda Management Services, Minda Automotive Solutions, Minda Autoelektrik and Minda Telematics and Electric Mobility Solutions (Formerly known as EI Labs India) into and with Minda Corporation.

The company says that the amalgamation of the transferor companies into and with the transferee company (Minda Corporation) shall result in consolidation of the businesses. It expects this to be  beneficial to the interests of the shareholders, creditors and employees, and as such amalgamation would create greater synergies among the businesses of all such companies and would enable them to have access to better financial resources, as well as increase the managerial efficiencies.

RELATED ARTICLES
Tata Motors commences Tiago EV deliveries

auther Autocar Pro News Desk calendar03 Feb 2023

​​​​​​​Tata Motors, which has received over 20,000 bookings for the all-electric hatchback, delivers the first batch of ...

Aptiv's new tech centre in Bengaluru to focus on SDVs and connected mobility solutions

auther Autocar Pro News Desk calendar03 Feb 2023

Looks to accelerate the transformation to software-defined vehicles and develop safer, greener, more connected mobility ...

Schwing Stetter India launches 14 new products at Bauma 2023

auther Autocar Pro News Desk calendar03 Feb 2023

Construction and concreting equipment manufacturer uses leading industry platform to introduce new range of products; do...