The Indian National Company Law Tribunal (NCLT) has approved the merger of biotech firm Monsanto India and Bayer CropScience, Business Standard reports.

German chemicals giant Bayer acquired US agrochemical company Monsanto for US$63bn last June to create the world’s largest agro-chemical and seed company.

The Competition Commission of India (CCI) approved the merger in India in May.

The Bayer CropScience subsidiary received shareholder approval for the deal during the first quarter of 2019/20 and was waiting for the NCLT’s final approval to make it effective in India, Business Standard wrote on 14 September.

Bayer has had a presence in India since 1896 with two divisions – crop science and pharmaceuticals.