Merger26 May 2026, 07:32 pm
Piramal Finance: NCLAT Allows Amalgamation Scheme
AI Summary
Piramal Finance Ltd received an order from the NCLAT, Delhi, allowing dispensation from convening an equity shareholders meeting for the proposed scheme of amalgamation. The appeal was against an earlier NCLT order that directed convening the meeting. The NCLAT directed that conditions regarding notices to secured and unsecured creditors also apply to equity shareholders. The order copy is available on the NCLAT website.
Key Highlights
- NCLAT allows Piramal Finance to skip equity shareholder meeting for amalgamation scheme.
- The appeal was against the NCLT order directing the meeting.
- Creditor notice conditions extended to equity shareholders.
- Order copy available on NCLAT website; certified copy awaited.
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