Wed Mar 12 10:43:33 UTC 2025: ## NCLAT Upholds Shriram Group Insurance Arm Mergers
**Chennai, March 12, 2025** – The National Company Law Appellate Tribunal (NCLAT) has rejected the Insurance Regulatory and Development Authority of India’s (IRDAI) appeals against the merger of Shriram Group’s insurance arms. The NCLAT ruled that the mergers, approved under sections 230-232 of the Companies Act, 2013, did not violate the Insurance Act.
IRDAI had argued that section 35(1) of the Insurance Act mandates approval for mergers involving insurance and non-insurance entities. However, the NCLAT disagreed, stating that this section does not prohibit mergers conducted under the Companies Act.
The mergers involve Shriram GI Holdings Private Limited (SGIH) with Shriram General Insurance Company Limited (SGIC), and Shriram LI Holdings Private Limited (SLIH) with Shriram Life Insurance Company Limited (SLIC). These were previously approved by various benches of the National Company Law Tribunal (NCLT). SGIH and SLIH primarily focus on investments and consultancy related to the insurance sector.
This decision clears the way for the completion of the mergers, which had received the Competition Commission of India’s approval last year.
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