V.P. Singh, Member - (1.) This is a joint application filed by the applicants for sanctioning of the Scheme for Amalgamation of M/s. Jalan Farms Private Limited, Transferor Company and the Applicant No. 1 with Jalan Carbons & Chemicals Private Limited, Transferee Company and Applicant No. 2 under the provisions of the Companies Act, 2013 whereby and where under all the undertakings of the Transferor Company together with all the assets and liabilities relating thereto as going concern is proposed to be transferred to and vested in the Transferee Company on the terms and conditions fully stated in the Scheme of Amalgamation, annexed with the Application as "Annexure A-11".
(2.) It is stated by the applicant that the aforesaid Scheme of Amalgamation will be of benefit to all concerned and is not opposed to public policy.
(3.) It is submitted by the Applicants that Jalan Farms Private Limited, the Transferor Company and Jalan Carbons & Chemicals Private Limited, Transferee Company, as on 31-03-2016, have been duly audited and the audited balance sheet as on the said date, related statement of profit and loss accounts and the auditor's report thereon are annexed with the application marked "Annexure A-12" and "Annexure A-14". The Supplementary Accounting Statement of both the Applicant Companies, as on 28-02-2017 are also annexed and marked as "Annexure A-13" and "Annexure A-15".;