NCLT-supervised scheme: application, creditor/member meetings, 75% majority, NCLT sanction
MCA charges additional fees that rise with the delay, up to 12 times the normal filing fee. OnCompliance tracks the date and warns you before it costs anything.
Draft the scheme with legal advisors covering all terms and conditions.
Board of both companies approve the scheme.
File application with NCLT for directions on conducting meetings.
Send notices and publish advertisement as per NCLT directions.
Hold meetings. Scheme must be approved by 75% majority in value.
File petition for NCLT sanction. Attend hearing and obtain order.
File certified copy of NCLT order with ROC.
Every guide runs like this in OnCompliance: steps in order, dates in view, paperwork made for you at each step.