- (1.) Originally these Company Petitions were filed before the Hon'ble High Court of Karnataka and they were numbered as Co.P. No. 153/2016, 154/2016, 155/2016 & 156/2016. Subsequently as per Notification No. GSR. 1119(E) : MANU /DCAF/0145/2016 dated 7th December 2016 issued by the Ministry of Corporate Affairs, New Delhi, the said cases were transferred to this Tribunal and renumbered as T.P. No. 224/2017, 225/2017, 226/2017 & 227/2017 respectively. These Company Petitions are being clubbed and disposed of by a Common Order.
(2.) These Company Petitions were filed on behalf of the Petitioner Companies under Section 391-394 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959, praying to order for sanctioning the Scheme of Amalgamation of the Transferor Companies with the Transferee Company and shall be binding upon all the Shareholders and Creditors of the Petitioner Companies.
(3.) The averments made in the Company Petitions are briefly described hereunder:- The Petitioner Companies seeks an order for sanctioning the Scheme of Amalgamation of DOWNHILL HOLIDAY RESORTS PRIVATE LIMITED (Petitioner Company No. 1) and FOOTHILLS RESORTS PRIVATE LIMITED (Petitioner Company No. 2) and PENNAR HOTELS AND RESORTS PRIVATE LIMITED (Petitioner Company No. 3) and VALDEL XTENT OUTSOURCING SOLUTIONS PRIVATE LIMITED (Petitioner Company No. 4) with PRESTIGE ESTATES PROJECTS LIMITED (Transferee Company). The Scheme of Amalgamation is shown as Annexure A.;