Corporate Law: "NCLT Has Power to Approve the Amalgamation Scheme" if Notice in Form CAA.3 has been issued : Recently Held

 Companies Act, 2013 - Scheme of Amalgamation - A Recent Decision on scheme of amalgamation under Companies Act, 2013

In the recent decision where two companies had filed the petition together seeking to sanction the Scheme of amalgamation and the companies had issued Form CAA.3 to official liquidator, and have also filed affidavit to the effect that such Notice has been issued and later on notice to convene the meeting was also published in certain newspapers, and affidavit of serving notice to equity shareholders was also there, it was held that NCLT has power to approve a bona fide and genuine scheme of amalgamation.

Citation : [2021] GCtR 1248

Vishal

Guwahati

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