Amalgamation of Sole Proprietorship Firm with Company is not Permissible under Law: NCLT

Amalgamation of Sole Proprietorship Firm with Company is not Permissible under Law, rules NCLT
Amalgamation - Sole Proprietorship Firm - NCLT - Amalgamation of Sole Proprietorship Firm - Company - taxscan

The Delhi Bench of the National Company Law Tribunal (NCLT) observed that the amalgamation of sole proprietorship firm with company is not permissible under law. M/s SVS Marketing Sanitaryware Private Limited (‘Applicant’/ ‘Operational Creditor’) has filed the present petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (‘IBC, 2016’) read with Rule 6…

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