NCLT Hyderabad allows application under Sections 230-232 to dispense with shareholder and creditor meetings for the merger of Fitride Labs into Prayagh Nutri.
The merger rationale cites operational synergies, cost reduction, and consolidation of complementary healthcare and nutrition businesses under a single entity.
Share exchange ratio set at 1 Prayagh Nutri share (Rs.100) for every 10 Fitride Labs shares (Rs.10), based on a registered valuer's report.
All shareholders and the sole unsecured creditor of both companies provided consent affidavits, showing no objection to the proposed scheme.