Edme Insurance Brokers Limited Vs UIB Insurance Brokers (India) Pvt. Ltd. (NCLT Ahmedabad)
Summary: The NCLT Ahmedabad Bench allowed Company Petition No. CP (CAA) 7 of 2026 in CA (CAA) 52 of 2025 and sanctioned the Scheme of Amalgamation of M/s Edme Insurance Brokers Limited (Transferee Company) with M/s UIB Insurance Brokers (India) Pvt. Ltd. (Transferor Company), with the Appointed Date of 01.08.2025. The petition was filed under Sections 230 to 232 of the Companies Act, 2013 read with the Companies (Compromise, Arrangement and Amalgamations) Rules, 2016. The Tribunal noted compliance with the applicable requirements, including responses to observations of the Regional Director and Registrar of Companies, statutory and regulatory compliance undertakings, accounting treatment certification, and submissions concerning Income Tax and IRDAI. The Tribunal found the proposed Scheme bona fide and in the interest of shareholders and creditors. It directed compliance with statutory filing requirements and clarified that sanction did not grant exemption from stamp duty, Income Tax, GST or other statutory or regulatory requirements. The Transferee Company was directed to complete assessment and payment of pre-Scheme dues of the Transferor Company within one year and make appropriate declaration in its next financial balance sheet. The Transferor Company was declared dissolved without winding up upon compliance with the order.
