NCLT Refuses to Dispense with Unsecured Creditors’ Meeting as 90% Consent Requirement Was Not Met

In re Foam Mattings (India) Limited (NCLT Kochi) The National Company Law Tribunal (NCLT), Kochi Bench, allowed a joint company application filed under Sections 230 to 233 of the Companies Act, 2013 in relation to a proposed Composite Scheme of Arrangement for the amalgamation of Foam Mattings (India) Limited (Transferor Company) with The Kerala State Coir Corporation Limited (Transferee Company). Both companies are Government companies wholly owned by the Government of Kerala. The Boards of Directors of the Transferor and Transferee Companies approved the Scheme on 25 July 2025 and 30 July 20...