In re Jakson Limited (NCLT Delhi)
Summary: The National Company Law Tribunal, New Delhi considered a first motion application filed jointly by Jakson Limited as the Demerged Company and Jackson Infra Powergen Private Limited, previously known as Ascot Heights Private Limited, as the Resulting Company, under Sections 230-232 of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, concerning a Scheme of Arrangement by way of demerger. The Scheme was approved by the Board of Directors of Applicant Company No.1 on 18.05.2026 and Applicant Company No.2 on 02.06.2026, with the appointed date specified as 01.04.2026. The Demerged Company had 8 equity shareholders, 10 secured creditors and 4282 unsecured creditors. All its equity shareholders furnished consent affidavits, but none of its secured or unsecured creditors furnished consent affidavits. The Resulting Company had 7 equity shareholders, all of whom furnished consent affidavits, and had NIL secured and unsecured creditors. The Tribunal therefore dispensed with the meetings of equity shareholders of both companies and with meetings of the Resulting Company’s secured and unsecured creditors, while directing meetings of the Demerged Company’s 10 secured creditors and 4282 unsecured creditors. The Tribunal also recorded the valuation report issued by M/s Procurve Valux Private Limited, IBBI Registered Valuer, the appointed date of 01.04.2026 and the applicants’ submission concerning accounting treatment under Section 133 of the Companies Act, 2013. Arun Jain CA was appointed Chairperson and Adv. Arora Vishwas Kumar was appointed Scrutinizer for the creditor meetings. The Tribunal prescribed requirements concerning notices, publication, quorum, authorised representatives, reporting and service of notice on regulatory authorities. The Petition was allowed on the aforesaid terms and disposed of. :contentReference[oaicite:0]{index=0} :contentReference[oaicite:1]{index=1} :contentReference[oaicite:2]{index=2}
