https://www.taxtmi.com/caselaws?id=277660 The National Company Law Tribunal (NCLT) rejected a Scheme of Amalgamation between Wiki Kids Limited and Avantel Limited, citing concerns about compliance with statutory requirements, the validity of the scheme, valuation issues, and fairness to shareholders. The Tribunal found that the scheme primarily benefited the promoters, with disproportionate financial gains, and lacked public interest. The Tribunal's decision to reject the scheme was upheld on appeal, emphasizing the need for fairness to all shareholders and public interest. The appeal was dismissed with no order as to costs. en-us Thu, 21 Dec 2017 00:00:00 +0530 Mon, 17 Dec 2018 06:35:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277660 The National Company Law Tribunal (NCLT) rejected a Scheme of Amalgamation between Wiki Kids Limited and Avantel Limited, citing concerns about compliance with statutory requirements, the validity of the scheme, valuation issues, and fairness to shareholders. The Tribunal found that the scheme primarily benefited the promoters, with disproportionate financial gains, and lacked public interest. The Tribunal's decision to reject the scheme was upheld on appeal, emphasizing the need for fairness to all shareholders and public interest. The appeal was dismissed with no order as to costs. Case-Laws Companies Law Thu, 21 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277660