Corporate News
The National Company Law Tribunal (NCLT) has approved a scheme of amalgamation consolidating Mahogany Logistics Services Private Limited, TVS SCS Global Freight Solutions Limited, White Data Systems India Private Limited, SPC International (India) Private Limited, FLEXOL Packaging (India) Limited, and TVS Supply Chain Solutions Limited under the latter company. The order, binding on all shareholders and creditors, addresses concerns raised by the Registrar of Companies, Official Liquidator, and Income Tax Department regarding accounting treatment, employee interests, outstanding dues to micro, small, and medium enterprises, and compliance with foreign exchange regulations. The amalgamation will be effective from April 1, 2025, at which point the merging companies will dissolve without formal winding up, and TVS Supply Chain Solutions Limited will be responsible for fulfilling all related obligations, including compliance with tax laws and filing required forms.