NCLT JUDGEMENT ON RULE 12, 14, 6, 7, 8 OF THE COMPANIES (COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS) RULES, 2016, RULE 6(3) OF THE COMPANIES (MANAGEMENT AND ADMINISTRATION) RULES, 2014, SECTION 102, 210, 211, 212, 213, 214, 215, 216, 217, 219, 220, 223, 224, 225, 226, 227, 230, 230(3), 230(4), 230(5), 231, 232 OF THE COMPANIES ACT, 2013 AND SECTION 235, 236, 237, 238, 239, 240, 241, 242, 243, 244, 245, 246, 247, 248, 249, 250, 251 OF THE COMPANIES ACT, 1956
Shiva Pharmachem Limited Vs. Shiva Performance Materials Private Limited, (2020) 06 NCLT CK 0010 NCLT allowed the application filed by the applicant under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013 for the proposed Scheme of Arrangement involves De-merger and transfer of the De-merged Undertaking to the Resulting Company. While allowing the application NCLT held that in compliance of sub-section (5) of Section 230 of the Act and Rule 8 of the Companies (CAA) Rules, the Applicant Companies shall send a Notice of meeting with a copy of the Scheme of Arrangement, the Explanatory Statement and the disclosures mentioned under Rule 6 to (1) Central Government through the Regional Director, North Western Region, (2) the Registrar of Companies, Gujarat; and (3) the Income Tax Authorities, (4) Reserve Bank of India;(5) BSE Limited (6) National Stock Exchange Limited as well as (7) Securities and Exchange Board of India; stating that rep...