Concord Control Systems Announces Cessation of Wholly-Owned Subsidiary After Amalgamation
Concord Control Systems Limited (CCSL) has confirmed the cessation of Advanced Rail Controls Private Limited (ARC) as its wholly-owned subsidiary, following the successful implementation of a Scheme of Amalgamation. The amalgamation was approved by the National Company Law Tribunal (NCLT) and formalized with the Registrar of Companies, Kanpur.The Scheme of Amalgamation involved Advanced Rail Controls Private Limited (ARC) transferring into Concord Control Systems Limited (CCSL). The process was sanctioned by the Hon'ble NCLT, Allahabad Bench, on April 15, 2026. CCSL and ARC filed a Certified Copy of the NCLT order with the Registrar of Companies, Kanpur, on May 09, 2026. Consequently, the Scheme became effective and ARC ceased to function as a wholly-owned subsidiary of the company with effect from May 09, 2026.
According to the detailed financials provided, Advanced Rail Controls Private Limited contributed the following figures during its last financial year:
| Particulars | Value |
|---|---|
| Turnover | Rs. 51.20 Crores |
| Networth | Rs. 16.44 Crores |
In relation to the transaction, the document notes that there will be no cash consideration or issuance of new shares involved in the Scheme of Amalgamation. Instead, the investment of CCSL in ARC was cancelled upon the Scheme becoming effective.
The transaction is characterized as a related party transaction, as ARC was a wholly-owned subsidiary of CCSL. CCSL stated that transactions arising out of Compromise, Arrangements, and Amalgamations dealt with under the Companies Act, 2013, do not fall within the purview of related party transactions under Section 188 of the Companies Act, 2013.
Stock Price Movement
Concord Control Systems Ltd shares settled at ₹2680.20 on Friday, advancing 3.08% for the day. Throughout the trading session, the shares fluctuated significantly, finding a range between a low of ₹2560.00 and a high of ₹2744.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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