Magma Fincorp has received approval from National Company Law Tribunal (NCLT), Kolkata Bench for the merger of the company’s wholly Owned Subsidiary -- Magma ITL Finance (MITL) with itself. The said merger will have no effect on the management and shareholding pattern of the company.
Magma Fincorp is a non-deposit taking NBFC registered with the Reserve Bank of India (RBI) as an asset finance company. It started operations two decades back and is now listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
