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NATIONAL COMPANY LAW TRIBUNAL
CHARANJEET SINGH GULATI, MOHAN PRASAD TIWARI, JJ
Kolte-Patil Integrated Townships Limited – Appellant
Versus
Kolte-Patil Developers – Respondent
| Table of Content |
|---|
| 1. tribunal assesses amalgamation compliance (Para 1 , 4) |
| 2. petitioner company commitments and compliance (Para 5 , 6 , 8) |
| 3. income tax department's concerns addressed (Para 11 , 12) |
| 4. final sanction and administrative directives (Para 14 , 20) |
ORDER
1. The sanction of the Tribunal is sought under Sections 230 to 232 read with other applicable provisions of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, to the Scheme of Amalgamation (Merger) between Kolte-Patil Integrated Townships Limited (“KPITL” or “Transferor Company”) and Kolte-Patil Developers (“KPDL” or “Transferee Company”) Limited and their respective Shareholders and Creditors.
2. The Counsel for the Petitioner Companies submits that the proposed Scheme of Amalgamation was approved unanimously by the Board of Directors of the respective Petitioner Companies on 10th February 2025 and 11th February 2025 respectively. A certified true copy of Board Resolution of respective Petitioner Companies approving the Scheme are annexed with Company Scheme Petition.
3. The Appointed Date for the Scheme of Amalgamation is 1st April, 2024.
4. The Counsel for the Petit
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