We hereby inform that the Hon ble National Company Law Tribunal ( NCLT ), Chennai Bench has vide its order…
As filed · We hereby inform that the Hon ble National Company Law Tribunal ( NCLT ), Chennai Bench has vide its order dated March 24, 2025 sanctioned the Scheme of Amalgamation of Rane Engine Valve Limited, Rane
What happened
FactWe hereby inform that the Hon ble National Company Law Tribunal ( NCLT ), Chennai Bench has vide its order dated March 24, 2025 sanctioned the Scheme of Amalgamation of Rane Engine Valve Limited, Rane Brake Lining Limited with and into Rane (Madras) Limited. The detailed order uploaded earlier today is available on the website of the NCLT www.nclt.gov.in. A certified copy of the NCLT Order is still awaited by the Company.
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
Watch next
Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
Evidence
How CapitSignal classified this
- Reasoning:
- INSOLVENCY base 93; explicit insolvency/default evidence present; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%