India Motor Parts & Accessories Limited (IMPAL) has received approval from the National Company Law Tribunal (NCLT) for its proposed amalgamation with CAPL Motor Parts Private Limited. The NCLT Chennai Bench sanctioned the Scheme of Amalgamation on December 20, 2024. The amalgamation will merge CAPL, a wholly owned subsidiary of IMPAL, with the parent company, thus streamlining operations and reducing administrative costs.
The tribunal found the scheme beneficial, noting the operational efficiencies it would bring, including the reduction of managerial overlaps and better resource utilization. Importantly, the scheme ensures there will be no harm to the interests of shareholders or creditors of either company.
