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Transferor and Transferee Companies must notify creditors per court-ordered scheme of arrangement
14-Aug-2026, 01:38
A court order outlines the directives for a scheme of arrangement between the Transferor Company and Transferee Company, noting both entities possess significant net worth and are not subject to ongoing investigations. The Transferor Company must individually notify its seven unsecured creditors by March 31, 2026, while the Transferee Company must notify all unsecured creditors with outstanding amounts of Rs 5,000 or more. Notices, along with a copy of the scheme, must also be served via Speed Post and email to a wide range of regulatory bodies including the Registrar of Companies, BSE Limited, and the Competition Commission of India. The Applicant Companies are required to file an Affidavit of Service and Compliance Report within 10 working days, and the Transferee Company’s chairperson must report shareholder meeting results to the Tribunal within 30 days.
A court order outlines the directives for a scheme of arrangement between the Transferor Company and Transferee Company, noting both entities possess significant net worth and are not subject to ongoing investigations. The Transferor Company must individually notify its seven unsecured creditors by March 31, 2026, while the Transferee Company must notify all unsecured creditors with outstanding amounts of Rs 5,000 or more. Notices, along with a copy of the scheme, must also be served via Speed Post and email to a wide range of regulatory bodies including the Registrar of Companies, BSE Limited, and the Competition Commission of India. The Applicant Companies are required to file an Affidavit of Service and Compliance Report within 10 working days, and the Transferee Company’s chairperson must report shareholder meeting results to the Tribunal within 30 days.