the national company law tribunal has approved the merger of shriram transport finance and shriram city union finance ther merger will result in the creation of a new consolidated entity shriram finance the new entity will have assets of rs 15 lakh crore and two crore customers the proposed scheme involves the amalgamation of shrilekha business consultancy sbcpl with shriram capital limited scl the demerger of that undertaking from scl which is carrying on the business of financial services and its transfer into shriram investment holdings limited sihl the scheme also involves demerge of insurance arms into two holding companies ther merger of scl with shriram transport finance and finally the merger of shriram city union finance with shriram transport being companies forming part of the same conglomerate the amalgamation and demerger contemplated in the scheme would create entities that are unique to each of the lines of business activities carried on by the group while also enabling consolidation and lead to a more efficient utilisation of capital and create a consolidated base for the future growth of the various entities the tribunal noted in its order the scheme does not require any modification as it appears to be fair and reasonable not contrary to public policy and also not violative of any provisions of law the tribunal said in its order