NCLT Mumbai Bench sanctioned a Scheme of Amalgamation merging Jiten Agro Land And Farm Private Limited and Deepdharshan Builders Private Limited into Poonam Highrise Private Limited.
The appointed date for the amalgamation is 1st April 2025, with an exchange ratio of 1:1 for shareholders of both transferor companies.
The rationale includes simplifying corporate structure, consolidating real estate operations, rationalizing costs, and enhancing shareholder value.
The Tribunal issued directions covering tax liabilities, employee transfers, stamp duty compliance, and filing of the order with the Registrar of Companies.