https://www.taxtmi.com/caselaws?id=771653 The NCLAT allowed an appeal challenging NCLT's dismissal of a demerger application under sections 230-232 of the Companies Act, 1956. The appellant companies were closely held family concerns seeking demerger of one unit from the first company and its merger with the second company. The NCLAT found that expert IBBI registered valuers had determined the valuation and share swap ratio, and shareholders of both companies had given unequivocal consent to the scheme. The tribunal held that NCLT erred in dismissing the first motion application and set aside the impugned order, directing NCLT to issue consequential orders regarding convening or dispensation of meetings within three days. en-us Mon, 26 May 2025 00:00:00 +0530 Tue, 27 May 2025 15:01:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771653 The NCLAT allowed an appeal challenging NCLT's dismissal of a demerger application under sections 230-232 of the Companies Act, 1956. The appellant companies were closely held family concerns seeking demerger of one unit from the first company and its merger with the second company. The NCLAT found that expert IBBI registered valuers had determined the valuation and share swap ratio, and shareholders of both companies had given unequivocal consent to the scheme. The tribunal held that NCLT erred in dismissing the first motion application and set aside the impugned order, directing NCLT to issue consequential orders regarding convening or dispensation of meetings within three days. Case-Laws Companies Law Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771653