https://www.taxtmi.com/caselaws?id=440365 The NCLAT set aside the NCLT's order requiring consent affidavits or meetings of Equity Shareholders, Secured, and Unsecured Creditors for the proposed Scheme of Arrangement between RPPMSL and RIL. The Tribunal concluded that the NCLT's directive lacked cogent reasoning, especially since no new shares would be issued and both companies are solvent. Consequently, the NCLAT dispensed with the need for such meetings and consent affidavits, allowing the appeal without costs. en-us Fri, 14 Jul 2023 00:00:00 +0530 Mon, 17 Jul 2023 08:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440365 The NCLAT set aside the NCLT's order requiring consent affidavits or meetings of Equity Shareholders, Secured, and Unsecured Creditors for the proposed Scheme of Arrangement between RPPMSL and RIL. The Tribunal concluded that the NCLT's directive lacked cogent reasoning, especially since no new shares would be issued and both companies are solvent. Consequently, the NCLAT dispensed with the need for such meetings and consent affidavits, allowing the appeal without costs. Case-Laws Law of Competition Fri, 14 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440365