Category: Compromise, arranagement and amalgamation
Transition from High Court to NCLT, compromise, arrangement, winding-up and other matters
The Insolvency and Bankruptcy Code, 2016 (31 of 2016) Key words of Preamble to the Insolvency and Bankruptcy Code, 2016 (IBC):- reorganization and insolvency resolution of- corporate person, partnership firms and individuals – in a time bound manner for maximization of value of assets to promote entrepreneurship availability of credit balance the interest of…
Demerger whether do not require approval of High Court, in view of Section 180 of Companies Act 2013?
This otherwise is a routine case of demerger, however has posed an interesting question – Whether demerger do not require court approval in view of section 180 of the Companies Act, 2013? In Re: United Spirits Limited, 2015(2) AKR 243 In a scheme of demerger, Regional Director (Ministry of Corporate Affairs) objected that the scheme…
Amalgamation – objection to change name as part of scheme
In Re: Michelin India Private Limited [MANU/TN/0817/2015] Madrad High Court In a scheme of amalgamation, it was proposed that name of the transferor company shall be deemed to be name of the transferee company. The Regional Director, Ministry of Company Affairs (‘MCA’), objected to the same on the ground that as per General Circular No.…