(2)Where an order has been made by the Tribunal under sub-section (1), merging companies or the companies in respect of which a division is proposed, shall also be required to circulate the following for the meeting so ordered by the Tribunal, namely:—(a)the draft of the proposed terms of the scheme drawn up and adopted by the directors of the merging company;(b)confirmation that a copy of the draft scheme has been filed with the Registrar;(c)a report adopted by the directors of the merging companies explaining effect of compromise on each class of shareholders, key managerial personnel, promoters and non-promoter shareholders laying out in particular the share exchange ratio, specifying any special valuation difficulties;(d)the report of the expert with regard to valuation, if any;(e)a supplementary accounting statement if the last annual accounts of any of the merging company relate to a financial year ending more than six months before the first meeting of the company summoned for the purposes of approving the scheme.
