Ina Malhotra, Member - (1.) Heard learned Advocates appearing for the Petitioners. No objector has come before this Hon'ble Tribunal to oppose the Scheme, nor has any party controverted any averments made in the captioned Petitions.
(2.) The sanction of the Court is sought under Sections 230 to 232 of the Companies Act, 2013, to the Scheme of Arrangement ("Scheme of Arrangement") for the merger of HDFC ERGO General Insurance Company Ltd. ("Transferor") into HDFC General Insurance Ltd. ("Transferee").
(3.) Learned Advocate for the Petitioners, submits that the Transferor is licensed to carry on the business of providing general insurance in India, by the Insurance Regulatory and Development Authority of India ("IRDAI") and the Transferee is a wholly owned subsidiary of the Transferor, which is also licensed to carry on the business of providing general insurance in India by IRDAI.;