https://www.taxtmi.com/caselaws?id=417251 The Appellate Tribunal addressed the appeal against the NCLT's dismissal of the application under Sections 230 to 232 of the Companies Act, 2013, related to a Scheme of Amalgamation between two companies. Emphasizing the necessity of obtaining approval from unsecured creditors to prevent prejudice, the Tribunal cited Section 230(9) of the Companies Act, 2013. It concluded that incomplete affidavits led to the dismissal of the application. The Tribunal highlighted the importance of unsecured creditors' consent in approving the Scheme of Amalgamation to avoid prejudice and ensure transparency in the process. The appeal was allowed, setting aside the NCLT's decision. en-us Tue, 18 Jan 2022 00:00:00 +0530 Wed, 19 Jan 2022 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417251 The Appellate Tribunal addressed the appeal against the NCLT's dismissal of the application under Sections 230 to 232 of the Companies Act, 2013, related to a Scheme of Amalgamation between two companies. Emphasizing the necessity of obtaining approval from unsecured creditors to prevent prejudice, the Tribunal cited Section 230(9) of the Companies Act, 2013. It concluded that incomplete affidavits led to the dismissal of the application. The Tribunal highlighted the importance of unsecured creditors' consent in approving the Scheme of Amalgamation to avoid prejudice and ensure transparency in the process. The appeal was allowed, setting aside the NCLT's decision. Case-Laws Companies Law Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417251