NCLT JUDGEMENT ON SECTION 137, 230, 231, 232 OF THE COMPANIES ACT, 2013


Stallion Advisors Private Limited And Ors Vs. Chanda Exports Private Limited, (2020) 06 NCLT CK 0027

NCLT allowed the application filed by the applicant, under Section 230 to 232 of the Companies Act, 2013 read with the Companies (Compromise, Arrangement and amalgamations) Rules, 2016 and the National Company Law Tribunal Rules, 2016, for the purpose of the approval of the Scheme of Amalgamation. While allowing the application NCLT held that in view of the foregoing, upon considering the approval accorded by the members and creditors of the petitioner Companies to the proposed Scheme, and the affidavit by the Regional Director, Northern Region, Ministry of Corporate Affairs and the report of the Official Liquidator and, there appears to be no impediment in sanctioning the present Scheme. Consequently, sanction is hereby granted to the Scheme under Section 230 to 232 of the Companies Act, 2013. The petitioner shall however remain to bound to comply with the statutory requirements in accordance with the law.

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