Refex Composite Scheme Gets NCLT Nod for Shareholders & Creditors Meetings

In re Refex Industries Ltd (NCLT Chennai) The National Company Law Tribunal (NCLT), Chennai Bench, considered an application filed by Refex Industries Limited (RIL), the Transferee and Demerged Company, seeking approval to proceed with a Composite Scheme of Amalgamation and Arrangement under Sections 230 to 232 of the Companies Act, 2013. The Scheme involved three companies: Refex Green Mobility Limited (RGML), Refex Industries Limited (RIL), and Refex Mobility Limited (RML). RGML and RML are wholly owned subsidiaries of RIL. The Scheme proposed three principal steps. First, RGML would amalgam...