Futech Internet and Anka India Amalgamation Sanctioned by NCLT Chandigarh, Subject to Transferor Tribunal's Nod
The Chandigarh Bench of the National Company Law Tribunal sanctioned, in In re Futech Internet Private Limited, the scheme of amalgamation of Futech Internet Private Limited (transferor company) with Anka India Limited (transferee company) under Sections 230 to 232 of the Companies Act, 2013 and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The petition was CP(CAA) No.8/Chd/Hry/2026. Sanction is conditional on approval of the second-motion petition by the Tribunal having jurisdiction over the transferor.
Procedure Followed
- The first-motion application CA(CAA) No.51/Chd/Hry/2025 sought dispensation of meetings for certain shareholder and creditor classes of the transferee. By order dated 03.02.2026, the Tribunal allowed it, dispensing with some meetings and directing a meeting of the transferee's unsecured creditors. The transferor's first-motion application had been allowed by NCLT New Delhi on 07.01.2026 in CA(CAA)-94/(ND)/2025.
- Both Boards approved the scheme on 03.09.2025.
- In the second-motion stage, the order of 20.02.2026 directed notice to the Regional Director (Northern Region-II), the Registrar of Companies, the Income Tax authorities, the Official Liquidator, SEBI and BSE, and publication of the hearing notice in Business Standard (English and Hindi), which appeared on 11.03.2026.