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aditya Rathod   12 August 2024

Scheme of merger

has it ever happened that a company filed a scheme of merger with NCLT for approval and before such scheme get s approved by NCLT, the same company filed another scheme of merger to NCLT for approval?  



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 3 Replies

T. Kalaiselvan, Advocate (Advocate)     12 August 2024

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.

aditya Rathod   12 August 2024

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?

 

 

T. Kalaiselvan, Advocate (Advocate)     12 August 2024

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.


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