NCLT Chandigarh Approves Inmorphis Services Demerger Scheme

NCLT Chandigarh sanctioned a demerger scheme transferring the IT Business Undertaking from Inmorphis Services to Inmorphis Consulting.
The scheme received no-objection from statutory authorities despite observations on CSR overspending, MSME dues, and FEMA compliance.
The appointed date for the demerger is 01.04.2025, with all employees and contracts of the demerged undertaking transferring to the resulting company.
The Income Tax Department noted a pending refund of ~Rs. 4.72 crores and reserved its rights to examine potential tax avoidance post-sanction.