There must be no actions pending against the company by the public authorities before sanctioning of a scheme under section 230 of the Companies Act, 2013 – Ashish O. Lalpuria Vs. Kumaka Industries Ltd.- NCLAT New Delhi

The Scheme under section 230 of Companies Act, 2013 cannot be used as a method of rectification of the actions already taken. Before the scheme gets approved, the company must be in compliance with all the public authorities and should come out clean. There must be no actions pending against the company by the public authorities before sanctioning of a scheme under section 230 of the Companies Act, 2013.

There must be no actions pending against the company by the public authorities before sanctioning of a scheme under section 230 of the Companies Act, 2013 – Ashish O. Lalpuria Vs. Kumaka Industries Ltd.- NCLAT New Delhi Read Post »