https://www.taxtmi.com/caselaws?id=750744 NCLAT set aside NCLT order sanctioning composite scheme of amalgamation under Sections 230-232 of Companies Act. The tribunal found NCLT failed to consider relevant clauses regarding scheme's separability and didn't exercise discretionary powers under Section 231(1)(b) to provide necessary directions or modifications. NCLAT directed NCLT to reconsider the second motion application within six weeks, taking into account Regional Director's observations and tribunal's clarifications for proper scheme implementation. en-us Tue, 12 Mar 2024 00:00:00 +0530 Thu, 28 Mar 2024 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750744 NCLAT set aside NCLT order sanctioning composite scheme of amalgamation under Sections 230-232 of Companies Act. The tribunal found NCLT failed to consider relevant clauses regarding scheme's separability and didn't exercise discretionary powers under Section 231(1)(b) to provide necessary directions or modifications. NCLAT directed NCLT to reconsider the second motion application within six weeks, taking into account Regional Director's observations and tribunal's clarifications for proper scheme implementation. Case-Laws Companies Law Tue, 12 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750744