NCLT Kolkata sanctions scheme amalgamating Data Advance System and AAD Retail into Jalan Brothers Pvt Ltd with appointed date of 1st April 2024.
Scheme approved to achieve business consolidation, operational synergies, and economies of scale among three privately-held Kolkata-based companies.
Tribunal directs compliance with stamp duty payments on asset transfers and registration of order with ROC within 30 days for dissolution.
Regional Director and Official Liquidator raised no objections after petitioners addressed all regulatory queries regarding asset transfers and compliance.