M&A Critique

NCLAT Judgement – On Obtaining Consent of Creditors in case of Scheme of Arrangement between Company and its Shareholders

Vedanta Limited has proposed scheme of arrangement for capital reorganization of the Applicant Company, inter alia, providing for transfer of amounts standing to the credit of General Reserves to Retained Earnings of the Applicant Company and filed company scheme application with Hon’ble National Company Law Tribunal, Mumbai Bench (NCLT).

Company Scheme Application prayed for the dispensation of secured and unsecure...

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Surendra Rahalkar