9911796707
TMI Blog2022 (9) TMI 1650X X X X Extracts X X X X X X X X Extracts X X X X ..... s proceeded on guess work to arrive at a share exchange ratio - HELD THAT:- It is considered appropriate to dispose of these appeals with a direction that the order of the NCLAT dated 29.11.2019 is set aside and the scheme of amalgamation as approved by the NCLT in respect to four private limited companies(respondent nos.4 to 7) with the appellant under order impugned dated 12.04.2018 confirmed. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... six companies, two public limited companies, who are respondent nos. 2 and 3 and four private limited companies, who are respondent nos. 4 to 7, with the appellant. The NCLT after examining the scheme of amalgamation, with certain modifications, approved the scheme by Order dated 12.04.2018. Respondent No.1, Ankit Mittal, as alleged, who is holding less than 1% shareholding in the public limite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsequently set aside the order of the NCLT dated 12.04.2018 and rejected the scheme of amalgamation. It reveals from the record that after passing of the judgment impugned dated 29.11.2019 by the NCLAT, an IA was filed by the appellant seeking clarification/modification of the order dated 29.11.2019 on the premise that respondent nos.4 to 7 as well as the appellant are private limited companies a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent no.1, Ankit Mittal, also has no objection in respect of the four private limited companies(respondent nos. 4 to 7). After we have heard learned Counsel for the parties, consider it appropriate to dispose of these appeals with a direction that the order of the NCLAT dated 29.11.2019 is set aside and confirm the scheme of amalgamation as approved by the NCLT in respect to four private limited c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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