Ekam Leasing Amalgamation: 2026 NCLT Process Explained

Amalgamation moves through the NCLT process

Ekam Leasing & Finance Co. Ltd. is pursuing the amalgamation of Rex Overseas Private Limited and S & S Balajee Mercantile Private Limited into the listed company. Ekam Leasing is the transferee company under the proposed Scheme of Amalgamation, while the other two entities are the transferor companies. The restructuring has moved through shareholder approval, tribunal filings and public-notice requirements. Its progress is being supervised by the National Company Law Tribunal, New Delhi Bench-III. The company disclosed that its Second Motion Application was filed with the NCLT on August 5, 2026. It informed BSE Limited of that development on August 6 under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations. The disclosures place the scheme within the process prescribed under Sections 230 to 232 of the Companies Act, 2013.

Proposal first placed before the board

Ekam Leasing had informed BSE that its board meeting scheduled for January 31, 2026 would consider the proposed amalgamation. The proposal involved merging Rex Overseas and S & S Balajee Mercantile with Ekam Leasing, subject to required approvals. Such approvals are necessary because an amalgamation scheme requires corporate, shareholder and tribunal processes before it can be implemented. The board-level consideration marked the beginning of the disclosed corporate restructuring sequence. The available information does not provide financial terms of the scheme. It also does not state a share-swap ratio, valuation, appointed date or expected financial contribution from the transferor companies. Those details should not be assumed from the procedural announcements.

First Motion Order preceded shareholder meeting

The company intimated the filing of the First Motion Order passed by the NCLT, New Delhi Bench, on May 12, 2026. This was followed by an NCLT-directed meeting of Ekam Leasing's equity shareholders on July 24, 2026. The meeting was convened specifically to consider the Scheme of Amalgamation. Shareholder consent is a significant stage because the scheme cannot move toward final tribunal sanction without the required voting approval. Ekam Leasing communicated the meeting outcome to the exchange on the same date, according to the supplied disclosures. A company news update dated July 28 also reported shareholder approval of the proposed scheme. Together, the disclosures show that the shareholder-consent stage was completed before the Second Motion filing.

Shareholders voted strongly in favour

The amalgamation resolution received 38,81,512 votes in favour. These votes represented 99.99% of total valid votes by value, according to the information provided. The result indicates near-unanimous support among the shareholders who cast valid votes at the NCLT-directed meeting. It does not, by itself, mean that all regulatory or legal conditions have been completed. Shareholder approval allows the company to continue with the next stages of the tribunal-led process. The resolution concerned the merger of Rex Overseas and S & S Balajee Mercantile into Ekam Leasing. No voting figures against the resolution, other than the implied remaining fraction of valid votes, were separately provided.

Second Motion filing advanced the scheme

Ekam Leasing filed its Second Motion Application with the NCLT on August 5, 2026. The application sought progress on the scheme involving the two transferor companies and Ekam Leasing as the transferee entity. The filing came after the First Motion Order and the equity shareholder meeting. This sequence is consistent with the movement of a scheme from initial tribunal directions and stakeholder approval toward consideration of final sanction. The company described the application as being before the NCLT's New Delhi Bench. The supplied information also states that the tribunal admitted the joint petition on August 10, 2026. Admission of the petition was described as a key regulatory milestone in the consolidation process.

Public notices set out October hearing

On September 2, 2026, Ekam Leasing submitted newspaper clippings concerning the notice of hearing for its scheme petition. The company published the notices in The Financial Express and Jansatta, in line with NCLT directions. The notices stated that the hearing was scheduled for October 12, 2026. Public notice gives creditors, regulators and other interested parties visibility into a proposed scheme before the tribunal considers it. The supplied disclosures identify this as a hearing on the amalgamation petition, not as confirmation that the scheme had already been sanctioned. The information provided does not disclose the outcome of the October 12 hearing. It also does not confirm whether the NCLT subsequently approved, modified or deferred the scheme.

Key milestones in the disclosed process

Regulators and authorities involved

The NCLT directions require coordination with several authorities during the process. The supplied information names the Regional Director, Registrar of Companies, Official Liquidator, Income Tax Department, Reserve Bank of India, BSE Limited and SEBI. Their involvement reflects the legal and regulatory scope of an amalgamation involving a listed company. The NCLT may consider observations, objections or compliance reports from relevant parties before issuing a final order. Publication of notices is one part of enabling that review. Ekam Leasing's exchange disclosures are also relevant because listed companies must promptly communicate material developments. The available announcements do not set out responses from any of the named authorities.

What the disclosures mean for investors

For investors, the confirmed development is that the scheme progressed beyond board consideration and shareholder voting into the Second Motion and hearing-notice stage. The 99.99% valid-vote support is a completed shareholder milestone. However, tribunal proceedings and other compliance steps remain central to whether the transaction can be implemented. The information provided does not contain financial projections, post-merger capital details, business integration plans or expected earnings effects. It also does not disclose any market-price movement linked to the scheme. As a result, the available record supports an assessment of procedural progress, rather than a quantified assessment of financial impact. Investors will need to rely on future company and exchange filings for any final order or additional terms.

Final sanction remains the key next disclosure

Ekam Leasing has completed several disclosed steps in its proposed amalgamation with Rex Overseas and S & S Balajee Mercantile. The process included a First Motion Order, shareholder approval, a Second Motion Application, petition admission and newspaper notices for a hearing. The next material update would be any NCLT order or company filing explaining the status after the scheduled October 12, 2026 hearing. Until such an update is disclosed, final implementation of the scheme cannot be treated as confirmed. Future filings may also clarify whether further directions, approvals or compliance requirements apply to the amalgamation.