The NCLT has approved the merger of M&M with Mahindra Heavy Engines, Mahindra Two Wheelers, and Trringo

The NCLT has approved the merger of M&M with Mahindra Heavy Engines, Mahindra Two Wheelers, and Trringo

All of MHEL, MTWL, and TCL's assets and liabilities will be transferred to M&M at their carrying values as a result of the merger.

While MTWL handles with parts needed for the company's line of two-wheelers, passenger light motor vehicles, and commercial vehicles, MHEL develops and distributes engines and other auto components for automobiles and genset applications.

The merger of Mahindra Heavy Engines (MHEL), Mahindra Two Wheelers (MTWL), and Trringo.com (TCL) with Mahindra and Mahindra Limited has been allowed by the Mumbai bench of the National Company Law Tribunal, M&M Ltd said in a statement on May 7. The matter was last heard on April 5 of this year, and NCLT issued the order on Tuesday.

According to M&M in a stock market filing, the merger will result in the full transfer of all of MHEL, MTWL, and TCL's assets and liabilities to the business at their carrying values.

"The corporation (directly and together with the nominee shareholders) holds all of the transferor companies' share capital. No shares of the Company will be awarded in place of or exchanged for the Company's holding in the transferor businesses upon the Scheme's implementation, according to M&M.

While MTWL handles with parts needed for the company's line of two-wheelers, passenger light motor vehicles, and commercial vehicles, MHEL develops and distributes engines and other auto components for automobiles and genset applications.

According to the corporate statement, TCL was in the organized agricultural equipment leasing sector, using a franchisee-based business model.