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
Torrent Power Limited Vs. TCL Cables Private Limited, (2020) 06 NCLT CK 0009 NCLT allowed the application filed by the applicant, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (hereinafter referred to as 'the Act') read with The Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (hereinafter referred to as 'the rules') for approval of the Scheme of Arrangement. 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) S...