Ashok Leyland gains approval to incorporate former LCV businesses
By Jim Gibbins - 1st March 2019
Chennai - The National Company Law Tribunal (NCLT) of Chennai has given its approval to Ashok Leyland Ltd of Chennai to proceed with the restructuring of its business to incorporate the three former LCV business units that were held previously as joint ventures with Nissan Motors Ltd.
Earlier this year, Ashok Leyland decided to fully incorporate its light commercial vehicle subsidiaries of the former Ashok Leyland Nissan Vehicles Ltd, Nissan Ashok Leyland Technologies Ltd, and Ashley Powertrain Ltd with its main Ashok Leyland business unit. This consolidation is expected help it to focus on growth, achieve operational efficiencies, improve utilisation of group resources, drive down costs and improve operating efficiencies and, enable better supervision of the LCV businesses.
