Emtac Lab Merger with Vimta Labs Approved by NCLT
NCLT approves merger of Emtac Laboratories with Vimta Labs, given the green light on July 10, 2024, aimed at enhancing operational synergy and financial strength of the combined entity.
by Damodharan N
Updated Jul 13, 2024
Table of Content
In a significant move towards operational synergy and business consolidation, the Hon’ble National Company Law Tribunal (NCLT) has approved the merger of Emtac Laboratories Private Limited with Vimta Labs Limited.
The merger, which received the green light on July 10, 2024, has been structured to consolidate the business activities of both entities into a single, more robust organization.
Financially, the merger is set to create a stronger balance sheet and improved financial health for the combined entity. As of March 31, 2024, Emtac Laboratories reported an issued, subscribed, and paid-up share capital of ₹3.41 crore, and an authorized share capital of ₹5 crore.
On the other hand, Vimta Labs, with its larger scale of operations, reported an issued, subscribed, and paid-up share capital of ₹4.43 crore, and an authorized share capital of ₹7 crore, providing ample headroom for future expansions and investments.
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Vimta Labs
Vimta Labs, established in 1984, has built a strong reputation as a global leader in testing, consultancy, and contract research services. With a focus on enhancing human well-being, Vimta impacts various aspects of life, from agriculture to pharmaceuticals, environmental testing, and electronics.
Their commitment to quality and innovation is reflected in their extensive lab facilities spanning over 400,000 square feet across India. Over the years, Vimta has evolved to meet the dynamic demands of industries like pharmaceuticals and food, while expanding internationally, ensuring their services positively impact millions worldwide.
Emtac Lab
EMTAC, originally founded in 2015 as a specialized Physical Security Products (PSP) test lab in Hyderabad, expanded its scope to include testing of Electrical and Electronics (E&E) products.
It later achieved ISO 17065 accreditation as a product certification body, enhancing its credibility in the industry. In March 2020, EMTAC Laboratories was acquired by Vimta Labs Limited, becoming a wholly owned subsidiary.
Today, EMTAC operates as a premier facility for assessments and certifications in physical security, electrical, electronic, and mechanical products, leveraging its expertise and 14,000 square feet of laboratory space under Vimta's umbrella.
Emtac Lab Merger with Vimta Labs Approved by NCLT - FAQs
1. What companies are involved in the merger approved by NCLT?
Emtac Laboratories Private Limited is merging with Vimta Labs Limited.
2. When was the merger approved by NCLT?
The merger was approved by the National Company Law Tribunal (NCLT) on July 10, 2024.
3. What is the purpose of merging Emtac Labs with Vimta Labs?
The merger aims to achieve operational synergy and consolidate business activities into a single, stronger entity.
4. How will the merger impact the financial health of the combined entity?
The merger is expected to create a stronger balance sheet and improve financial health for the combined Vimta Labs.
5. What are the financial details of Emtac Laboratories and Vimta Labs before the merger?
As of March 31, 2024, Emtac had an issued, subscribed, and paid-up share capital of ₹3.41 crore and an authorized share capital of ₹5 crore. Vimta Labs had ₹4.43 crore issued, subscribed, and paid-up share capital and an authorized share capital of ₹7 crore.
6. What regulatory approval was required for the merger to proceed?
The merger required approval from the National Company Law Tribunal (NCLT), which has been obtained.
7. Will there be any changes in leadership or management due to the merger?
Details about leadership or management changes resulting from the merger have not been disclosed.
8. How will the merger benefit stakeholders of both Vimta Labs and Emtac Labs?
Stakeholders can expect enhanced operational efficiencies, potentially increased market presence, and improved financial performance.
9. What are the next steps following the NCLT approval of the merger?
The next steps may include integration planning, aligning business operations, and completing legal and administrative formalities.
10. Where can I find more information about the merger between Emtac Labs and Vimta Labs?
Detailed information about the merger can be accessed through official announcements from Vimta Labs or regulatory filings.