The National Company Law Tribunal (NCLT) has approved the scheme of amalgamation of Dr Naresh Trehan & Associates Health Services Pvt Ltd into Global Health Pvt Ltd. The order came in response to a joint application filed by Dr Naresh Trehan & Associates Health Services, which is the transferor company, and Global Health, the transferee firm. The tribunal observed that both the companies have already completed formalities such as meeting of equity shareholders, creditors, besides others. A two-member bench comprising President M M Kumar and Member S K Mohapatra observed, "There appears to be no impediment in sanctioning the present scheme.
Consequently sanction is granted to the scheme under section 230 & 232 of the Companies Act, 2013." It further added: "The petitioners shall however remain bound to comply with the statutory requirements in accordance with law." The NCLT ordered dissolution of the transferor company Dr Naresh Trehan & Associates Health Services without following the process of winding up. "That all the property, rights and power of all the transferor company be transferred without further acts...to the transferee company and accordingly the same shall pursuant to section 232 of the Act, be transferred to and vest in the transferee company for all the estate and interests of the transferor company," the tribunal said. It also said that all "liabilities and duties" of the transferor would be transferred to the transferee company.
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