Ashok Leyland Ltd says NCLT sanctions merger of subsidiary HLFL into NDL Ventures
- NCLT Mumbai Bench order was dated November 3, 2026; the scheme takes effect after filing the certified order with the Registrar of Companies and completing formalities.
- NDL will issue 25 equity shares for every 10 HLFL shares.
- On effectiveness, HLFL will be dissolved without winding up; Ashok Leyland will hold 59.64% in NDL, which will become its material listed subsidiary.