The Bombay bench of the National Company Law Tribunal (NCLT) has posted the PVR-Inox merger application case for a final hearing on January 12, 2023. The Tribunal had earlier fixed December 15, 2022 as the date for the hearing and final disposal of the application.
All the regulatory authorities have filed their reports before the NCLT. The two companies have sought the NCLT’s approval for the proposed merger.
The public policy and advocacy group, Consumer Units & Trust Society (CUTS), had recently moved the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India’s (CCI) order on the PVR-Inox merger deal.
A two-member bench adjourned the matter till February 9, 2023. PVR and Inox have also been made parties in the matter. In September this year, the CCI rejected CUTS’ complaint against the merger on the ground that mere apprehension of the likelihood of appreciable adverse effect on competition by an entity that is yet to take form cannot be the subject matter of inquiry/investigation.