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NCLAT allowed appeal regarding demerger under Sections 230-232 of Companies Act, finding lower tribunal erred in dismissing scheme. Tribunal considered key factors including: closely held family business, valuation by registered IBBI valuers, and unanimous shareholder consent. The appellate body set aside the original order and directed the NCLT to issue consequential orders for meeting convening/dispensation within three days, effectively permitting the proposed corporate restructuring scheme.
NCLAT allowed appeal regarding demerger under Sections 230-232 of Companies Act, finding lower tribunal erred in dismissing scheme. Tribunal considered key factors including: closely held family business, valuation by registered IBBI valuers, and unanimous shareholder consent. The appellate body set aside the original order and directed the NCLT to issue consequential orders for meeting convening/dispensation within three days, effectively permitting the proposed corporate restructuring scheme.
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