Demerger between closely held family concerns allowed based on shareholders unequivocal consent

Lincon Polymers Private Limited Vs XX (NCLAT Delhi) NCLAT Delhi held that under the scheme of demerger, the companies are closely held family concerns, the valuation and share swap ratio is worked out by expert IBBI registered valuer and shareholders have given their unequivocal consent hence dismissal of demerger scheme not justified. Facts- Lincon Polymers Private Limited had manufacturing facilities, one at Khatraj and one at Borisana. The Khatraj manufacturing facility was catering to domestic market whereas the Borisana facility was catering to export market. It was proposed to transfer t...