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NCLT Dispenses with Creditor Meetings as Demerger Scheme Does Not Affect Their Rights
Case Law Details
- Case Name
- Sammaan Finserve Limited Vs Sammaan Capital Limited (NCLT Delhi)
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- NCLT
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Sammaan Finserve Limited Vs Sammaan Capital Limited (NCLT Delhi)
NCLT Approves First Motion Directions Because 100% Shareholder Consent Was Obtained; Equity Shareholders’ Meeting Ordered Because Resulting Company Has Public Shareholding: NCLT Allows Demerger Scheme Application Because No Compromise with Creditors Is Proposed; Demerger Application Allowed Because RBI Approval and Regulatory Requirements Were Satisfied.
The National Company Law Tribunal (NCLT), New Delhi, allowed a first motion application jointly filed under Sections 230 to 232 of the Companies Act, 2013 by the Demerged...
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