Four Murugappa Group Companies Seek NCLT Nod For Restructuring

Four Murugappa group companies have moved the National Company Law Tribunal (NCLT) in Chennai seeking approval for a composite restructuring scheme, with the tribunal reserving orders on whether shareholder and creditor meetings will need to be held. The restructuring is part of a wider internal realignment within the century-old conglomerate, which owns several listed companies such as Tube Investments of India, Carborundum Universal, Coromandel International, CG Power and Cholamandalam Investment and Finance. The matter was heard by Judicial Member Sanjiv Jain and Member Technical Venkataraman Subramaniam. The four companies told the tribunal that the scheme is aimed at simplifying the group's internal structure by consolidating related operations under two entities. Under the proposal, parts of the water technologies business of Murugappa Water Technology and Solutions Pvt Ltd will shift to Ambadi Investments Ltd. The food and travel division of Parry Enterprises India Ltd will also move to Ambadi Investments Ltd while Parry Enterprises India Ltd will retain its polynet and membrane units. Ambadi Enterprises Ltd will transfer its home textiles division to Ambadi Investments Ltd and retain only its investments. After these transfers, the remaining portion of Ambadi Enterprises Ltd is proposed to merge into Murugappa Water Technology and Solutions Pvt Ltd. The companies said this will leave Ambadi Investments Ltd holding the water technologies, food and travel, home textiles and investment businesses while Parry Enterprises India Ltd will hold the polynet, membrane and investment operations. The companies sought directions on which shareholder and creditor approvals must be taken and which meetings can be dispensed with. Ambadi Enterprises Ltd asked the tribunal to dispense with meetings of secured and unsecured creditors since it has none, and to hold only a shareholders meeting. Ambadi Investments Ltd also sought a similar direction. Parry Enterprises India Ltd asked the tribunal to dispense with the meeting of its preference shareholders since it has received 100 percent consent from that class, while seeking directions to convene meetings of its equity shareholders, its two secured creditors and its 218 unsecured creditors. Murugappa Water Technology and Solutions Pvt Ltd asked for dispensation of its shareholders meeting after receiving consent from its two shareholders, and sought directions to hold a meeting of its secured creditor and meetings of its unsecured creditors. All four companies requested permission to conduct the required meetings in hybrid mode. The tribunal heard the applications and reserved its orders on whether these meetings should be convened or dispensed with.Case Number: CA(CAA)/89-92(CHE)/2025Case Title: Ambadi Enterprises Ltd

Four Murugappa Group Companies Seek NCLT Nod For Restructuring

Sahyaja MS

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