NCLT Allows First Motion as 100% Consents Dispensed with Resulting Company Meetings

Kanpur Flowercycling Private Limited Vs Fleather Private Limited (NCLT Allahabad) The matter concerns a joint First Motion Application filed before the NCLT, Allahabad Bench, seeking sanction of a Scheme of Arrangement under Sections 230 and 232 of the Companies Act, 2013 for the demerger of the “Fleather Business” from the Demerged Company into the Resulting Company. The Demerged Company is engaged in the manufacturing, marketing, and distribution of products made from collected flower waste, while the Resulting Company manufactures, markets, and distributes leather products made ...