https://www.taxtmi.com/caselaws?id=799825 Merger schemes under sections 230 and 232 follow a two-stage process in which shareholder and creditor consideration precedes fuller scrutiny of delay, valuation and related concerns. A first-motion application should not be rejected merely because the appointed date predates filing by more than one year, filing is allegedly delayed, or preliminary document concerns arise. Listed companies must obtain stock-exchange observations based on SEBI observations before approaching the Tribunal, and time taken for that mandatory process is not attributable to applicants acting promptly thereafter. General Circular No. 09/2019 requires justification and public-interest consistency for significantly ante-dated appointed dates, rather than mechanical rejection. Stakeholder meetings should proceed, with detailed assessment at the second stage. en-us Fri, 25 Sep 2026 00:00:00 +0530 Mon, 28 Sep 2026 08:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799825 Merger schemes under sections 230 and 232 follow a two-stage process in which shareholder and creditor consideration precedes fuller scrutiny of delay, valuation and related concerns. A first-motion application should not be rejected merely because the appointed date predates filing by more than one year, filing is allegedly delayed, or preliminary document concerns arise. Listed companies must obtain stock-exchange observations based on SEBI observations before approaching the Tribunal, and time taken for that mandatory process is not attributable to applicants acting promptly thereafter. General Circular No. 09/2019 requires justification and public-interest consistency for significantly ante-dated appointed dates, rather than mechanical rejection. Stakeholder meetings should proceed, with detailed assessment at the second stage. Case-Laws Companies Law Fri, 25 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799825