New Delhi, February 05, 2026: Lakshmikumaran & Sridharan, Attorneys ("LKS") represented Narbada Gems and Jewellery Limited ("Transferor Company" / "Petitioner No. 1") and Uday Jewellery Industries Limited ("Transferee Company" / "Petitioner No. 2"), both public limited companies listed on the BSE, before the National Company Law Tribunal, Hyderabad Bench ("Hon'ble NCLT"), in connection with the sanction of a Composite Scheme of Arrangement for Amalgamation under Sections 230 to 232 of the Companies Act, 2013.
By its order dated 21 January 2026, the Hon'ble NCLT sanctioned the amalgamation of Petitioner Companies, with 01 April 2024 as the appointed date. Upon the Scheme becoming effective, all assets, properties, rights, liabilities, obligations, and undertakings of the Transferor Company stand transferred to and vested in the Transferee Company, without any further act or deed, in accordance with the sanctioned Scheme.
The amalgamation represents a strategic consolidation of group entities engaged in the Jewellery manufacturing and trading business, aimed at achieving operational efficiencies, streamlined governance, enhanced financial strength, and long‑term value creation for shareholders and other stakeholders.
The Corporate and M&A team at LKS, acted as the counsel on record for the Petitioner Companies and represented them throughout the proceedings before the Hon'ble NCLT. The firm advised on the structuring of the Scheme, statutory and regulatory compliances, facilitated shareholder approvals, and successfully addressed observations raised by the Regional Director, the Official Liquidator, and the Income Tax Department.
Notably, the entire approval process was completed within a period of less than six months, underscoring the firm's efficiency and commitment to timely execution.
The firm appeared before the Hon'ble NCLT through Mr. Dinesh Babu Eedi and Mr. Guru Charan, Advocates.