MPS Amalgamation Advances to Next NCLT Stage

NCLT order date: September 16, 2026
Next hearing: November 4, 2026

Reader Takeaway: Merger process advances procedurally; final approval remains pending.

What just happened

MPS Limited has informed the stock exchanges that the National Company Law Tribunal (NCLT), Chennai Bench, has passed an order on the second motion petition relating to the proposed amalgamation of ADI BPO Services Limited with MPS Limited.

The order follows the first motion application approved on July 2, 2026.

The tribunal also recorded the Chairman's reports confirming that the proposed scheme received approval from the company's equity shareholders and unsecured creditors at meetings held on August 22, 2026.

Why this matters

The latest order moves the amalgamation through the mandatory legal process required under the Companies Act.

It does not amount to final approval of the merger and does not result in any immediate financial or operational change for MPS Limited.

What changes now

The NCLT has directed the company to:

• Serve notices to statutory and regulatory authorities, including the Central Government, Registrar of Companies, Income Tax Authorities and other relevant authorities.
• Publish statutory notices in Business Standard (English) and Dina Malar (Tamil).

The notified authorities have 30 days from receipt of the notices to submit any representations or objections. If no response is received within the prescribed period, the tribunal will presume there are no objections.

Risks to watch

The amalgamation remains subject to completion of the statutory process and any observations from regulatory authorities.

Final approval will depend on the outcome of the remaining NCLT proceedings.

What to track next

Investors should monitor:

• Responses, if any, from statutory authorities.
• The NCLT hearing scheduled for November 4, 2026.
• Any subsequent order approving or modifying the proposed scheme of amalgamation.