Mergers & Acquisitions
01 June 2019
Before the establishment of National Company Law Tribunals (“NCLTs”) under the Companies Act, 2013 (“2013 Act”), schemes of arrangement – being court approved arrangements or compromises between a company(ies) and its (their) creditors or members, fell within the purview of the High Courts under Sections 391-394 of the Companies Act, 1956 (“1956 Act”).