SKF India Ltd secured shareholder approval for its proposed Scheme of Arrangement with SKF India (Industrial) Limited. The scheme, which involves the demerger of certain business undertakings from SKF India into a newly formed entity, was passed as a special resolution with the requisite majority. The approval came during a meeting of equity shareholders convened on July 14, 2025, as directed by the National Company Law Tribunal Mumbai Bench.
The demerger aims to streamline operations, enhance business focus, and unlock long-term value for stakeholders, SKF said. By separating industrial operations into a distinct legal entity, SKF India expects to drive improved efficiency, operational clarity, and strategic flexibility.
During the meeting, the chairperson outlined the rationale and key features of the demerger. Shareholders were invited to raise questions, which were addressed by Managing Director Mukund Vasudevan and other members of the management team to the satisfaction of attendees.
The meeting was conducted through video conferencing and hosted from the company's registered office in Chinchwad, Pune. It was chaired by Kuldeep Kumar Kareer, retired Judicial Member of NCLT, who was appointed by the tribunal to preside over the proceedings. The scheme was discussed and approved under Sections 230 to 232 of the Companies Act, 2013, and in accordance with applicable SEBI Listing Obligations and Disclosure Requirements (LODR) regulations.
The Scrutinizer’s report, submitted after the meeting, confirmed that the resolution was passed with the required majority. The results were published on the company’s website and submitted to the stock exchanges.
SKF India Limited, a subsidiary of the global SKF Group, is a manufacturer and supplier of bearings, seals, lubrication systems, and related products and services. Headquartered in Pune, the company serves diverse sectors including automotive, industrial, railways, aerospace, and energy.