Schaeffler India has received an approval for the scheme of amalgamation of INA Bearings India and LuK India with itself. The Board of Directors of the company in its meeting held on August 30, 2017 has approved the same.
The Scheme provides for transfer and vesting of the entire undertaking of the Transferor Companies into the Company and the dissolution of the Transferor Companies without winding up.
Schaeffler India has its presence in automotive and across all core industrial segments.