Piramal Finance Ltd. has received relief from the National Company Law Appellate Tribunal in connection with a merger scheme involving four group entities.
According to an exchange filing, the NCLAT has allowed Piramal Finance's plea and set aside an earlier order passed by the National Company Law Tribunal regarding the requirement to convene a meeting of equity shareholders for approving the proposed scheme.
The appellate tribunal ruled that a separate meeting of equity shareholders would not be required in relation to the merger arrangement. The scheme pertains to the amalgamation involving Piramal Corporate Tower, Piramal Agastya Offices and DFHCL along with Piramal Finance.
Corporate merger schemes often require multiple regulatory and shareholder approvals under the Companies Act, particularly when listed entities or large group structures are involved. The company had challenged the NCLT's earlier direction mandating an equity shareholder meeting, arguing for an exemption under the proposed arrangement. With the NCLAT setting aside the order, the merger process is expected to move forward with fewer procedural hurdles.
Piramal Finance Q4 Result
Piramal Finance Ltd.'s net profit for the fourth quarter of FY26 soared over 9 times on a year-on-year basis, according to an exchange filing. The company registered a bottom-line of Rs 603 crore on the back of exceptional gains, up sharply from Rs 64 crore in the corresponding period of last fiscal.
Notably, as apart of the exceptional gains the company received $148 million deferred consideration from sale of Piramal Imaging, completed sale of Shriram Life Insurance stake for Rs 600 crore, and secured $350 million of inaugural DFI funding from IFC & ADB.
The company has also declared a dividend of Rs 11 per share of face value of Rs 2 each for FY26, the filing informed.
Piramal Finance's total income surged 56.5% to Rs 4,783 crore from Rs 3,056 crore year-on-year; reported Net Interest Income went up by 41% to Rs 1,362 crore, compared to Rs 964 crore.
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