Joint Ventures8 April 2026 at 02:57 pm
NCLT Allows First Motion Application for Scheme of Amalgamation of Info Edge (India) Ltd
AI Summary
The National Company Law Tribunal (NCLT) has allowed the first motion application filed in connection with the Scheme of Amalgamation amongst Allcheckdeals India Private Limited, Axilly Labs Private Limited, Diphda Internet Services Limited, Zwayam Digital Private Limited and Info Edge (India) Limited. The Hon’ble NCLT has inter alia dispensed with the requirement of convening meetings of the shareholders, debenture holders, secured creditors, and unsecured creditors of the Transferor Companies. The Tribunal has directed the convening of meetings of the respective equity shareholders, secured and unsecured creditors of the Transferee Company.
Key Highlights
- NCLT allows first motion application for the Scheme of Amalgamation of Info Edge (India) Ltd
- Scheme of Amalgamation amongst Allcheckdeals India Private Limited, Axilly Labs Private Limited, Diphda Internet Services Limited, Zwayam Digital Private Limited and Info Edge (India) Limited
- NCLT dispenses with the requirement of convening meetings of the shareholders, debenture holders, secured creditors, and unsecured creditors of the Transferor Companies
- NCLT directs the convening of meetings of the respective equity shareholders, secured and unsecured creditors of the Transferee Company
- Info Edge (India) Ltd is the Transferee Company in the Scheme of Amalgamation