NCLT Kolkata Bench Approves Amalgamation Scheme for Ramkrishna Forgings Subsidiaries
February 28, 2026
The National Company Law Tribunal, Kolkata Bench has sanctioned the scheme of amalgamation involving Ramkrishna Forgings Limited's subsidiaries on February 27, 2026. The approved scheme merges Mal Metalliks Private Limited and Multitech Auto Private Limited with Ramkrishna Casting Solutions Limited, effective from January 1, 2024. The consolidation aims to achieve operational efficiency, cost optimization, and streamlined corporate structure while maintaining all employee obligations and ongoing proceedings under the transferee company.
Ramkrishna Forgings Limited has received approval from the National Company Law Tribunal (NCLT), Kolkata Bench for a significant corporate restructuring involving its subsidiaries. The tribunal pronounced its order on February 27, 2026, sanctioning the scheme of amalgamation that will consolidate three wholly owned subsidiaries under one entity.
NCLT Approval Details
The Hon'ble National Company Law Tribunal heard the petition on January 22, 2026, and subsequently approved the scheme through its order pronounced on February 27, 2026. The order was uploaded on the tribunal's website on the same day, with the certified copy awaited for final implementation.
Parameter: Details Tribunal: NCLT Kolkata Bench, Court No. II Order Date: February 27, 2026 Appointed Date: January 1, 2024 Case Numbers: Company Petition (CAA) No. 173/KB/2025 connected with Company Application (CAA) No. 178/KB/2025
Companies Involved in Amalgamation
The scheme involves the merger of two transferor companies with one transferee company, all operating under the Ramkrishna Forgings Limited umbrella:
Company Role: Company Name Corporate ID Transferor Company No. 1: Mal Metalliks Private Limited U27109WB2005PTC102386 Transferor Company No. 2: Multitech Auto Private Limited U34102WB2004PTC215505 Transferee Company: Ramkrishna Casting Solutions Limited U42274WB1997PLC277411
All companies maintain their registered offices at 9th Floor, 23 Circus Avenue, Kolkata-700017, West Bengal, India. Notably, Ramkrishna Casting Solutions Limited was formerly known as JMT Auto Limited and had shifted its registered office from Delhi to Kolkata.
Strategic Rationale and Benefits
The tribunal order outlined several justifications for the amalgamation scheme. The companies are carrying similar business activities under the same management group, with Ramkrishna Forgings Limited having acquired the transferor companies through a share purchase agreement dated July 21, 2023, for an all-cash consideration. The transferee company was acquired through implementation of a resolution plan under the Insolvency and Bankruptcy Code, 2015.
Key benefits identified include:
Better administrative control and operational convenience
Prevention of cost duplication and enhanced cost efficiency
Streamlined group structure by reducing legal entities
Reduced multiplicity of legal and regulatory compliances
Optimal utilization of existing resources and infrastructure
Greater efficiency in cash management and access to combined cash flows
Compliance and Procedural Aspects
The scheme received comprehensive regulatory review and compliance verification. The statutory auditor confirmed that the accounting treatment conforms with accounting standards prescribed under Section 133 of the Companies Act, 2013. The exchange ratio of shares was fixed on a fair and reasonable basis based on the valuation report by CA Ritesh Kumar Gupta.
Notably, the tribunal dispensed with meetings of equity shareholders, secured creditors, unsecured creditors, and debenture holders under Section 230(1) read with Section 232(1) of the Act, as consents were provided through affidavits. The companies are not listed on any stock exchange.
Implementation Timeline
The scheme becomes effective upon filing the certified copy of the NCLT order with the Registrar of Companies, Kolkata. The petitioners must deliver the certified copy within thirty days of receiving the order. Upon effectiveness, the transferor companies will stand dissolved without winding up, and all assets, liabilities, employees, and ongoing proceedings will transfer to Ramkrishna Casting Solutions Limited.
The order also mandates that the transferee company will allot shares to shareholders of Multitech Auto Private Limited post-amalgamation in accordance with the scheme provisions.
Ramkrishna Forgings has reaffirmed its strategic commitment to achieving double-digit growth in FY26, signaling confidence in its operational capabilities and market positioning. The company's management remains optimistic about its growth trajectory despite prevailing market conditions.
Growth Strategy and Financial Targets
The company has maintained its double-digit growth forecast for FY26, reflecting a sustained focus on business expansion and operational excellence. This growth target demonstrates the management's confidence in the company's ability to capitalize on market opportunities and deliver consistent performance.
Strategic Target Details Growth Forecast Double-digit growth for FY26 Margin Target 19% to 20% Improvement Approach Steady quarterly enhancements Timeline No specific timeline provided
Margin Enhancement Initiative
Ramkrishna Forgings is pursuing a systematic approach to margin improvement, targeting a range of 19% to 20%. The company plans to achieve these margins through steady quarterly improvements, indicating a gradual and sustainable enhancement strategy rather than aggressive short-term measures.
The absence of a specific timeline for achieving the targeted margin levels suggests the company is taking a measured approach, prioritizing sustainable improvements over rushed implementation. This strategy reflects prudent financial planning and risk management.
Strategic Outlook
The company's decision to maintain its growth forecast while simultaneously working toward margin enhancement indicates a balanced approach to business development. By focusing on both top-line growth and profitability improvements, Ramkrishna Forgings is positioning itself for comprehensive financial performance enhancement in the coming fiscal year.
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As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.
NCLT Approval Details
The Hon'ble National Company Law Tribunal heard the petition on January 22, 2026, and subsequently approved the scheme through its order pronounced on February 27, 2026. The order was uploaded on the tribunal's website on the same day, with the certified copy awaited for final implementation.
Parameter: Details Tribunal: NCLT Kolkata Bench, Court No. II Order Date: February 27, 2026 Appointed Date: January 1, 2024 Case Numbers: Company Petition (CAA) No. 173/KB/2025 connected with Company Application (CAA) No. 178/KB/2025
Companies Involved in Amalgamation
The scheme involves the merger of two transferor companies with one transferee company, all operating under the Ramkrishna Forgings Limited umbrella:
Company Role: Company Name Corporate ID Transferor Company No. 1: Mal Metalliks Private Limited U27109WB2005PTC102386 Transferor Company No. 2: Multitech Auto Private Limited U34102WB2004PTC215505 Transferee Company: Ramkrishna Casting Solutions Limited U42274WB1997PLC277411
All companies maintain their registered offices at 9th Floor, 23 Circus Avenue, Kolkata-700017, West Bengal, India. Notably, Ramkrishna Casting Solutions Limited was formerly known as JMT Auto Limited and had shifted its registered office from Delhi to Kolkata.
Strategic Rationale and Benefits
The tribunal order outlined several justifications for the amalgamation scheme. The companies are carrying similar business activities under the same management group, with Ramkrishna Forgings Limited having acquired the transferor companies through a share purchase agreement dated July 21, 2023, for an all-cash consideration. The transferee company was acquired through implementation of a resolution plan under the Insolvency and Bankruptcy Code, 2015.
Key benefits identified include:
Better administrative control and operational convenience
Prevention of cost duplication and enhanced cost efficiency
Streamlined group structure by reducing legal entities
Reduced multiplicity of legal and regulatory compliances
Optimal utilization of existing resources and infrastructure
Greater efficiency in cash management and access to combined cash flows
Compliance and Procedural Aspects
The scheme received comprehensive regulatory review and compliance verification. The statutory auditor confirmed that the accounting treatment conforms with accounting standards prescribed under Section 133 of the Companies Act, 2013. The exchange ratio of shares was fixed on a fair and reasonable basis based on the valuation report by CA Ritesh Kumar Gupta.
Notably, the tribunal dispensed with meetings of equity shareholders, secured creditors, unsecured creditors, and debenture holders under Section 230(1) read with Section 232(1) of the Act, as consents were provided through affidavits. The companies are not listed on any stock exchange.
Implementation Timeline
The scheme becomes effective upon filing the certified copy of the NCLT order with the Registrar of Companies, Kolkata. The petitioners must deliver the certified copy within thirty days of receiving the order. Upon effectiveness, the transferor companies will stand dissolved without winding up, and all assets, liabilities, employees, and ongoing proceedings will transfer to Ramkrishna Casting Solutions Limited.
The order also mandates that the transferee company will allot shares to shareholders of Multitech Auto Private Limited post-amalgamation in accordance with the scheme provisions.
Ramkrishna Forgings has reaffirmed its strategic commitment to achieving double-digit growth in FY26, signaling confidence in its operational capabilities and market positioning. The company's management remains optimistic about its growth trajectory despite prevailing market conditions.
Growth Strategy and Financial Targets
The company has maintained its double-digit growth forecast for FY26, reflecting a sustained focus on business expansion and operational excellence. This growth target demonstrates the management's confidence in the company's ability to capitalize on market opportunities and deliver consistent performance.
Strategic Target Details Growth Forecast Double-digit growth for FY26 Margin Target 19% to 20% Improvement Approach Steady quarterly enhancements Timeline No specific timeline provided
Margin Enhancement Initiative
Ramkrishna Forgings is pursuing a systematic approach to margin improvement, targeting a range of 19% to 20%. The company plans to achieve these margins through steady quarterly improvements, indicating a gradual and sustainable enhancement strategy rather than aggressive short-term measures.
The absence of a specific timeline for achieving the targeted margin levels suggests the company is taking a measured approach, prioritizing sustainable improvements over rushed implementation. This strategy reflects prudent financial planning and risk management.
Strategic Outlook
The company's decision to maintain its growth forecast while simultaneously working toward margin enhancement indicates a balanced approach to business development. By focusing on both top-line growth and profitability improvements, Ramkrishna Forgings is positioning itself for comprehensive financial performance enhancement in the coming fiscal year.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.