The National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the Composite Scheme of Arrangement involving the amalgamation of subsidiary companies namely DLF City Centre Limited, DLF Lands India Private Limited, DLF Info City Developers (Kolkata) Limited, DLF Emporio Limited and demerger and vesting of three SEZ undertakings (situated at Silokhera, Hyderabad and Chennai) of DLF Assets Limited, subsidiary company into DLF Cyber City Developers Limited.
The merger is under Section 230-232 and other relevant provisions of the Companies Act, 2013 read with the Rules made thereunder.
“Pursuant to the Order, the Transferor Companies shall stand dissolved and SEZ undertakings of the Demerged Company shall stand demerged and vested into the Transferee Company once the copy of the Order is filed with the concerned Registrar of Companies,” said DLF Limited in their regulatory filing.
