Scheme of merger

To initiate the process of amalgamation, merger, or demerger, companies are required to seek approval from the NCLT located in the state where the registered office of the concerned company is situated. This involves submitting the proposed scheme to the NCLT for review and sanctioning.

The NCLT ensures that the interests of all stakeholders, including shareholders, employees, and creditors, are protected during the process of mergers and acquisitions.

but still has it ever happened that two schemes of mergers have been filed by a company one after another before receiving approval from NCLT of the the first one?

The prevailing law on the subject has been explained, if they are indulging in unlawful activities despite aware of provisions of law, then the consequences may be faced accordingly.