MPS Limited Amalgamation with ADI BPO Services Clears Key NCLT Hurdle

MPS Limited has taken an important step forward in its corporate restructuring journey after receiving the First Motion Order from the Hon’ble National Company Law Tribunal (NCLT), Chennai Bench, for the proposed amalgamation of ADI BPO Services Limited with MPS Limited.

The order, dated July 2, 2026, marks the initial judicial approval required under the merger process. It indicates that the tribunal has reviewed the scheme at a preliminary stage and has permitted the companies to proceed with the next phase of the amalgamation.

NCLT Clears First Stage of Amalgamation

As part of the order, the NCLT approved the First Motion Application jointly filed by ADI BPO Services Limited, the transferor company, and MPS Limited, the transferee company.

The tribunal has also granted several procedural relaxations. It waived the requirement to hold meetings of the shareholders, secured creditors, and unsecured creditors of ADI BPO Services Limited. In addition, MPS Limited has been exempted from convening a meeting of its secured creditors.

However, the tribunal has directed MPS Limited to hold meetings of its equity shareholders and unsecured creditors to seek their approval for the proposed merger.

Shareholder and Creditor Meetings Scheduled

The meetings will be held on Saturday, August 22, 2026, with the equity shareholders’ meeting scheduled for 10:00 AM (IST) and the unsecured creditors’ meeting at 11:30 AM (IST).

Participants will have the option to attend either at the company’s registered office in Chennai or through Video Conferencing (VC) / Other Audio Visual Means (OAVM), ensuring greater convenience for shareholders and creditors.

Reason Behind Delay in Disclosure

MPS Limited also explained the delay in informing the stock exchanges about the NCLT order. According to the company, although the order was pronounced on July 2, 2026, the certified copy was received later, and minor typographical corrections had to be made by the tribunal before it could be formally disclosed.

What This Means for Investors

The First Motion Order is a significant milestone in the proposed merger between MPS Limited and ADI BPO Services Limited. While it does not represent the final approval, it enables the companies to move ahead with obtaining consent from shareholders and creditors before seeking the tribunal’s final sanction.

If completed, the amalgamation is expected to streamline operations, improve organizational efficiency, and create long-term synergies for the combined business. Investors will now closely monitor the outcome of the August 22 meetings, as they represent the next major step in the merger process.