Scheme of Arrangement on Demerger of Hotel by ITC: NCLT directs by to Convene Meeting of Shareholders on June 6 [Read Order]

On last year, the board of ITC approved the demerger of the hotels business, with an indicative timeline of listing of the new entity in about 15 months.
NCLT - Scheme of Arrangement - ITC - National Company Law Tribunal - taxscan

The National Company Law Tribunal ( NCLT ) has directed the ITC company to convene a meeting of shareholders on June 6, 2024 to consider and approve the proposed demerger of its hotel business. The update comes after ITC filed the Scheme of Arrangement for demerger with the tribunal, the company said in a regulatory…

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