Timken India Ltd advances amalgamation process as NCLT accepts first motion application
Timken India Limited has reported a significant step in its corporate restructuring, following the acceptance of the first motion application by the National Company Law Tribunal (NCLT) for the Scheme of Amalgamation. The company is currently progressing with the next phase of this scheme involving its subsidiary.The amalgamation pertains to Timken GGB Technology Private Limited, which is a wholly-owned subsidiary of Timken India Ltd. The acceptance of the first motion application by the NCLT marks a key milestone in the process, as noted in the company's communications regarding the restructuring efforts.
Following this approval, Timken India Ltd is now engaged in the submission of the second motion application to the NCLT. This advancement moves the amalgamation scheme closer to its scheduled progression among the involved entities.
TIMKEN Stock Price Movement
Timken India Limited shares closed today, edging higher to settle at ₹3127 after gaining 1.07%. The stock traded on 77,943 shares during the day, charting a range between a low of ₹3053.8 and an intraday high of ₹3168.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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