Pension scheme trustees for Debenhams and Clara-Pensions said on Thursday they had agreed to a 600 million pound ($768 million) transfer of the former British retailer’s pension assets in a so-called superfund...
Aditya Birla Capital, Aditya Birla Finance announce a Scheme of Amalgamation for creation of a large NBFC
The Boards of Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) on Monday approved the Scheme of Amalgamation (Scheme) of the two companies, to further create a large unified operating NBFC. It is to...
Purchase of Own Shares under Scheme of Arrangement: Dehors Buyback & Capital Reduction?
Case Law: Cognizant Technology – Solutions India Pvt. Ltd [TS-531-ITAT-2023(CHNY)] Facts of the Case: M/s.Cognizant Technology Solutions India Pvt. Ltd (“Applicant Company” or Cognizant”) is a Private Ltd. Co. and...
NCLT reserves order on Zee-Sony merger scheme
The Mumbai bench of the National Company Law Tribunal (NCLT) has reserved its order on the merger scheme between Zee Entertainment Enterprises (ZEE) and Culver Max Entertainment (Sony). The division bench of judicial...
Scheme of Merger Approved – Despite Objections from Regional Director
Medlife Wellness Retail Private Limited (“Petitioner Company 1/Transferor Company 1) and Metarain Distributors Private Limited (“Petitioner Company 2/Transferor Company 2) filed scheme of amalgamation with Threpsi...
Rejection of Scheme of Merger – Objections from Income Tax Authorities
Indiabulls Real Estate Limited (“Petitioner Company /Transferee Company/IBREL) filed a scheme of amalgamation of companies belonging to Embassy Group – NAM Estates Private Limited (“Non-Petitioner Company/...
Scheme of Merger of WoS with its Holding Company Approved – Despite of Objections from IT Department
Yuflow Engineering Private Limited (“Petitioner Company 1/Transferor Company) filed scheme of amalgamation with Yuken India Limited (“Petitioner Company 2/Transferee Company”) before the Hon’ble National Company Law...
Rejection of Scheme By NCLT: Objection of Regional Director on grounds of non-compliance
Hotel City Plaza Private Ltd ( “Appellant 1” or Petitioner Company 1 or “Transferor Company”) Trivandrum Apollo Towers Private Ltd ( “Appellant 2” or Petitioner Company 2 or “Transferee Company”) have preferred appeal...
Whether NCLT is within its power to reject the scheme on the ground of tax benefits available to The Transferee Company?
Minda TG Rubber Private Limited (“Applicant Company/Transferor Company) filed scheme of amalgamation with Toyoda Gosei Minda India Private Limited (“Transferee Company”) before the Hon’ble National Company Law Tribunal...
NCLT grants approval to PVR-Inox merger scheme
The Mumbai bench of the National Company Law Tribunal (NCLT) has sanctioned the scheme of arrangement between cinema chains PVR and Inox Leisure. The written order is expected to come out in the next few days. “We...
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...
Radio City’s scheme for NCRPS gets NCLT approval
The National Company Law Tribunal (NCLT) has approved Radio City parent Music Broadcast Ltd’s (MBL) scheme of arrangement for the issuance of non-convertible non-cumulative redeemable preference shares (NCRPS) on...