Section 232(6) of Companies Act, 2013 enables companies to choose & state ‘appointed date’ in amalgamation scheme

RHI India Private Limited & Ors. (Appellants) Vs Union of India (NCLAT) Fact of the case: Appellants presented a scheme of amalgamation for approval of the Tribunal for merging 1st appellant (RHI India Private Limited) and 2nd appellant (RHI Clasil Private Limited) in 3rd appellant (Orient Refractories Limited). The rationale for the scheme is simplification of the corporate structure. The NCLT Mumbai bench, has rejected the scheme filed by the Appellants stating that the appointed date of the Scheme is January 01, 2019 whereas the Valuation Date is July 31, 2018, putting its reliance on t...