NCLT JUDGEMENT ON SECTION 230, 230(1), 230(3), 230(4), 230(5), 231, 232, 232(3)(I), 232(6) OF THE COMPANIES ACT, 2013


Radha Riddhi Enterprises Pvt. Ltd. And Ors Vs. Smg Realties Pvt. Ltd., (2020) 08 NCLT CK 0048

NCLT allowed the petition filed by the petitioner for seeking sanction, of the tribunal under Sections 230 to 232 of the Companies Act, 2013 and the Rules framed there under for the Scheme of Amalgamation of the First Transferor Company and the Second Transferor Company with the Transferee Company. While allowing the petition NCLT held that from the material on record, the Scheme appears to be fair and reasonable and does not violate any provisions of law and is not contrary to public policy or public interest. Since all the requisite statutory compliances have been fulfilled, Company Scheme Petition No. 944 of 2020 is made absolute in terms of clauses (a) to (c). Hence ordered.

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