NCLT Dispenses with Shareholder & Creditor Meetings as Merger Involved Wholly Owned Subsidiaries

Radico Spiritzs India Pvt. Ltd Vs Equibuild Realtors Pvt. Ltd. (NCLT Allahabad) The National Company Law Tribunal allowed the first motion application seeking approval for a scheme of amalgamation involving eight transferor companies and one transferee company. The order arose from a joint application filed under Sections 230 and 232 of the Companies Act, 2013, read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, seeking approval for the merger of eight group entities into the transferee company. The applicants submitted that the first transferor company was a who...