Indian Toners & Developers Ltd. (BSE:523586) agreed to acquire remaining 49% stake in ITDL Imagetec Limited from Sushil Jain, Nandita Jain, Akshat Jain and Ashima Jain and others on February 9, 2016. The exchange ratio for the transaction is 1028 shares each in Indian Toners & Developers Ltd. for every 100 shares held in ITDL Imagetec Limited. Board of directors of Indian Toners & Developers approved the acquisition of ITDL on February 9, 2017 and August 31, 2017.

On November 3, 2016, the transaction is approved by shareholders of Indian Toners & Developers Limited. On May 9, 2017 and July 26, 2017, the transaction is approved by National Company Law Tribunal of Allahabad Bench.