NCLT Dispenses with Meetings as Raymonds Wholly Owned Subsidiary Merger Required No Share Exchange

In re Everblue Apparel Limited (NCLT Mumbai) The National Company Law Tribunal (NCLT), Mumbai Bench, allowed the company scheme application filed by Everblue Apparel Limited (EBAL), the Transferor Company, and Raymond Limited (RL), the Transferee Company, seeking directions in relation to a Scheme of Amalgamation under Sections 230 to 232 of the Companies Act, 2013. The application sought dispensation of meetings of the equity shareholders, secured creditors, and unsecured creditors of both applicant companies in connection with the proposed amalgamation. The Board of Directors of Everblue App...