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NATIONAL COMPANY LAW TRIBUNAL
Harnam Singh Thakur, Shishir Agarwal, JJ
Nav Auxichem Private Limited – Appellant
Versus
Perfect Belts Private Limited – Respondent
| Table of Content |
|---|
| 1. details of the proposed scheme of amalgamation. (Para 1 , 3) |
| 2. rationale and implications of the amalgamation. (Para 4 , 5) |
| 3. consent of shareholders and creditors for dispensation of meetings. (Para 6 , 7 , 8) |
| 4. court's decision to allow the first motion application. (Para 10) |
PER: SH. HARNAM SINGH THAKUR, MEMBER (JUDICIAL)
The Applicant Companies have filed the present first motion Application under Sections 230-232 of the Companies Act, 2013 in respect of the proposed Scheme of Amalgamation ("Scheme") embodying the Amalgamation of Nav Auxichem Private Limited ("Applicant No. 1/Transferor Company") and Perfect Belts Private Limited ("Applicant No. 2 / Transferee Company") seeking appropriate orders and directions for sanctioning of the Scheme of Amalgamation and for dispensation of the meetings of all the secured / unsecured creditors and Shareholders / members of the Applicant Companies. The original scheme as approved by Board of Directors of all the Companies in their respective meetings is attached with the application as Annexure A-1.
3. The facts of the case as stated in the Application are as below:
(ii) The true copy of the audited financial statements and
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