NMCE-ICEX merger: NCLT convenes meeting of shareholders, lenders on April 5

Former Gujarat HC justice to chair the meeting; outcome to be reported to Tribunal, which will then take merger forward

The National Company Law Tribunal (NCLT) has convened a meeting of shareholders and lenders of Ahmedabad–based National Multi Commodity Exchange (NMCE) and its bonding partner, Indian Commodity Exchange (ICEX), to arrive at a consensus over the proposed swap ratio of the merger betwen the two exchanges.

To be held in NMCE’s office on April 5, the meeting would be chaired by former justice of Gujarat High Court Kamal Mehta.

“We have reached a stage where the NCLT has convened shareholders’ and creditors’ meeting to approve the proposed scheme of merger between NMCE and ICEX under the supervision of Justice Mehta. The result