Corporate restructuring within Mirae Asset group moves ahead after tribunal approval for NBFC amalgamation | Representational Image
Mumbai, Feb 25: The National Company Law Tribunal (NCLT), presided over by a bench comprising Member (Technical) Prabhat Kumar and Member (Judicial) Sushil Mahadeorao Koche, has allowed a scheme of amalgamation between Mirae Asset Sharekhan Financial Services Limited and Mirae Asset Financial Services (India) Private Limited, clearing the way for consolidation of the two non-banking financial companies (NBFCs) within the Mirae Asset group.
RBI directions and merger compliance
After the RBI had issued directions, the amalgamation between the two firms took place. The RBI, in its orders, had directed the group to surrender the certificate of registration of one of its two NBFCs following the proposed merger, no later than March 31, 2026.
Shareholder and creditor consent
The tribunal recorded that 100% consent affidavits were obtained from the equity shareholders of both companies. In addition, nearly all unsecured creditors of the amalgamating company and 100% of the secured and unsecured creditors of the amalgamated company provided their consent.
In view of the overall consent, the NCLT dispensed with the requirement of convening meetings of shareholders and creditors.
Company profiles and financial position
Mirae Asset Sharekhan Financial Services Limited, formerly known as Sharekhan BNP Paribas Financial Services Limited, is a systemically important non-deposit taking NBFC registered with the RBI and classified as an investment and credit company.
As of September 15, 2025, it had seven equity shareholders, no secured creditors, and 17 unsecured creditors with outstanding dues of approximately Rs 50 crore.
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Mirae Asset Financial Services (India) Private Limited, incorporated in 2020, is also a systemically important non-deposit taking NBFC. It had four equity shareholders, eight secured creditors with dues of Rs 775 crore, and seven unsecured creditors with dues of Rs 350 crore as of September 15, 2025.
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