NCLT Approves Karma Lakelands Amalgamation First Motion

NCLT Principal Bench approves first motion application for amalgamation of Kanchenjunga Services and Rajgul Services into Karma Lakelands.
Tribunal dispenses with all shareholder and creditor meetings due to 100% consent from shareholders and 90-100% consent from unsecured creditors.
Appointed date for the scheme is set for 01.04.2025 with a share exchange ratio of 633:100 and 0.04:100 for the respective transferor companies.
Notice issued to regulatory authorities including Central Government, ROC, Income Tax, and Official Liquidator for representations within 30 days.