Approval of financials

The scheme will be effective only on the date of filing order of NCLT with ROC by both companies.  Hence you should first file NCLT order with ROC so that the transferor company gets dissolved on that date.   Thereafter hold Board meeting of transferee company for approval of financials giving effect of merger.  

Thank you sir,

in this case tansferee company already approved it's financilas as on 31.03.2018 in their board meeting held on 30.05.2018 and scheduled it's AGM in next week to approve the financials.

Whether the members of the  transferee company is required to meet again for approving consolidated financials?

In that case you should immediately hold Board meeting of transferor company for approval of financials.  After the NCLT order is filed with ROC, you will have to give effect of the merger in the books of the transferee company w.e.f. 1.4.2017 in current financial year.