As part of an internal restructuring exercise, Panasonic India has been in the process of a merger with Panasonic Life Solutions, a wholly owned subsidiary of Panasonic Group. Pursuant to the National Company Law Tribunal (“NCLT”) order dated 19th May 2022, Panasonic India has been accorded the approval of NCLT for the merger with Panasonic Life Solutions and the same shall be effective on 01st August 2022 (“Effective Date“) as per the approval provided by the Registrar of Companies (“ROC”) with respect to the certified copy of the order of the NCLT filed by the Company with the ROC. However, this will have no bearing on business relationships.
As a result of the aforementioned Order, Panasonic India’s rights, liabilities and obligations under the existing commercial arrangement between your organisation and Panasonic India, including but not limited to payments and billing, will be assumed and discharged by Panasonic Life Solutions after the Effective Date of the merger.
