Piramal Ent, fin arm merger gets NCLT nod

MUMBAI: The National Company Law Tribunal cleared the merger of Piramal Enterprises with its wholly owned arm, Piramal Finance, on Sept 10, marking a plan that places the financial services business under Anand Piramal, son of group chairman Ajay Piramal. Anand will take over as chairman of Piramal Finance, the merged entity.Ajay Piramal will continue as chairman of Piramal Group, overseeing the group’s businesses in finance, pharma, real estate, and philanthropy. Swati Piramal will remain vice chairperson of the group, a role she has held for several years. Together, Ajay and Swati will retain oversight of the conglomerate, while day-to-day leadership of the finance business passes to the next generation.Operational leadership of Piramal Finance will rest with Jairam Sridharan.