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    Withdraw the Scheme of Amalgamation

    Posted By : SARIKA / Published on : 25-Jun-2022 05:49 AM / View : 53 / Comment : 2
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    Application can be Withdrawal Of Merger Application once Filed With HonBle National Company Law Tribunal With Regard To Amalgamation ?
    Read more on : amalgamation scheme withdraw

    • NCLT must not allow withdrawal (except with specific approval of shareholders) as NCLT cannot judge whether majority of shareholders would be approving withdrawal having earlier approving the scheme. If NCLT considers shareholders’ approval as pre-requisite for approval of scheme, it should follow same yardstick for withdrawal as well.

      Yes applicantion once filed with NCLT is allowed to withdraw

      For refrence,

      NCLT allows Fortis to withdraw scheme of arrangement and amalgamation.

      29-06-2022 / 05:38:02 AM
    • Many Thanks @Sohil

      Can you please explain the procedure how to do ?

      01-07-2022 / 12:26:11 PM

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