JKB Financial Services Ltd.

As on : 04-Nov-2026

Corporate News
04-Nov-2026 23:14

NCLT approves demerger of two petitioner companies, effective April 1, 2025

The National Company Law Tribunal (NCLT) has approved a Scheme of Arrangement, effectively demerging Petitioner Company No. 1 and Petitioner Company No. 2, with an effective date of April 1, 2025. The approval follows a review addressing concerns raised by statutory authorities including the Income Tax Department and the Reserve Bank of India, with the companies committing to ongoing compliance with the Income Tax Act and Foreign Exchange Management Act. The order mandates the preservation of records related to the demmerged undertaking and requires adherence to all applicable laws and regulations. The NCLT emphasized that the approval does not provide exemption from stamp duty, taxes, or other liabilities, and the Registry will issue a formal order requiring a schedule of properties to be filed.

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