Court permits condonation of delay in re-filing petition for amalgamation under Companies Act The High Court of Delhi allowed the application to condone a 102-day delay in re-filing a petition related to a scheme of amalgamation under the Companies ...
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Court permits condonation of delay in re-filing petition for amalgamation under Companies Act
The High Court of Delhi allowed the application to condone a 102-day delay in re-filing a petition related to a scheme of amalgamation under the Companies Act, 1956. The petition involves nine applicants, including transferor and transferee companies, seeking consent from shareholders and unsecured creditors with a request for exemption from a meeting. Orders are reserved after hearing arguments.
The High Court of Delhi allowed an application to condone a delay of 102 days in re-filing a petition. The case involves a scheme of amalgamation under Sections 391 to 394 and Sections 100 to 104 of the Companies Act, 1956. Nine applicants, including eight transferor companies and one transferee company (SRD Trading Private Limited), have moved the petition. Shareholders and unsecured creditors have given their consent, and exemption from a meeting is sought. Arguments have been heard, and orders are reserved.
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