Whalesbook
Ekam Leasing & Finance Company Ltd. has received a crucial First Motion Order from the National Company Law Tribunal (NCLT), clearing the path for its amalgamation with Rex Overseas Private Limited and S & S Balajee Mercantile Private Limited.
The NCLT has dispensed with the need for meetings of shareholders and creditors for the transferor companies, Rex Overseas and S & S Balajee Mercantile. However, Ekam Leasing's equity shareholders will still convene a meeting via video conferencing or audio-visual means to approve the proposed scheme of amalgamation.
This merger is primarily intended to simplify the group's structure by consolidating multiple entities. The consolidation is expected to boost operational and managerial efficiency, strengthen Ekam Leasing's balance sheet, and improve regulatory compliance.
The combined net worth of the entities is approximately ₹7.45 crore. As of September 30, 2025, S & S Balajee Mercantile Private Limited reported a net worth of ₹2.96 crore, while Rex Overseas Private Limited had a net worth of ₹2.76 crore. Ekam Leasing, the transferee company, had a net worth of ₹1.73 crore.
Following the amalgamation, the group structure will be simplified, and operations consolidated. Management anticipates improved efficiency, a stronger balance sheet, and enhanced regulatory compliance. The company has stated there will be no change in management, control, or shareholding patterns.
Investors are tracking a Writ Petition concerning Income Tax matters pending in the Delhi High Court, with the next hearing set for August 3, 2026. Additionally, a SEBI SOP Fine Waiver application is under consideration by the BSE.
In the broader financial services sector, Ekam Leasing operates within the NBFC and leasing niche. Its peers include companies like CSL Finance Ltd. and larger NBFCs such as Poonawalla Fincorp Ltd. The current amalgamation aims to streamline Ekam Leasing's operations for more focused growth.
Key developments to monitor include the outcome of Ekam Leasing's equity shareholders' meeting, further NCLT directives, progress on the Delhi High Court legal matters, and the decision on the SEBI SOP Fine Waiver application.