NCLAT allows Ericsson India to dispense with Shareholders and Creditors Meeting

The NCLAT set aside the NCLT order which rejected Ercisson’s plea seeking leave to dispense with holding of the meeting of shareholders and creditors for approval of the scheme of amalgamation with a subsidiary firm.

The National Company Law Appellate Tribunal (NCLAT) on Tuesday permitted Ericsson India Private Limited (EIPL) to dispense with the shareholders and creditors meeting which was to be held in relation to the scheme of amalgamation with subsidiary firm Ericsson India Global Services Pvt. Ltd. (EIGS).

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