NCLT Issues Orders in Scheme of Amalgamation Between Scan Projects and Chanderpur Industries
The National Company Law Tribunal (NCLT), Chandigarh Bench, has passed an order concerning the proposed Scheme of Amalgamation / Merger between Chanderpur Industries Pvt Ltd, acting as the Transferor Company, and Scan Projects Ltd, serving as the Transferee Company. The order was issued on May 21, 2026.The Tribunal's directive addresses the amalgamation of the two companies along with their respective shareholders and creditors.
As per the directions provided by the NCLT, the proceedings set out three distinct options regarding necessary shareholder and creditor meetings:
| Option | Direction | Details |
|---|---|---|
| Option A | Meeting of Equity Shareholders of the Transferee Company | To be held on a later date decided by the Company in consultation with the Chairperson. The meeting mode will be VC/OAVM/Physical. |
| Option B | Transferor Company Shareholders' Meeting | The requirement of convening this meeting has been dispensed with. |
| Option C | Creditors' Meeting | The requirement of convening a meeting of Secured and Unsecured Creditors has been dispensed with for both the Transferor and Transferee Companies. |
The NCLT's order provides the foundational framework for the proposed merger, specifying the next steps for the Transferee Company's shareholders while dispensing with the need for convening specific meetings for the Transferor Company and both sets of creditors.
Stock Price Movement
Scan Projects Ltd shares settled at ₹115.65 on Thursday, retreating 4.89% for the day. The stock exhibited significant intraday volatility, trading between a high of ₹127.20 and a low of ₹115.65.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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