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The National Company Law Tribunal (NCLT), Mumbai, approved the amalgamation of INA Bearings India and LuK India with Schaeffler India on September 7, 2018. The merger will become operative after completion of legal formalities.
Shareholders and creditors of Schaeffler India, INA Bearings India and LuK India voted in favor of merging the two unlisted entities into Schaeffler India. The merger will streamline operations under one corporate umbrella.
Schaeffler India will invest Rs 200 crore to expand its INA Bearings plant in Talegaon, Pune, adding a new manufacturing facility and R&D centre. The ground breaking ceremony has been held.