- (1.) Heard learned counsel for parties. No objector has come before this Tribunal to oppose the Scheme and nor has any party controverted any averments made in the Petitions to the Scheme of Amalgamation of Innovative Insurance Services Limited, the Transferor Company 1 and Cinestar Advertising Private Limited, the Transferor Company 2 and Wavelength Television Private Limited, the Transferor Company 3 with Vrushvik Broadcast Network Private Limited, the Transferee Company.
(2.) The sanction of the Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013 to the Scheme of Amalgamation of Innovative Insurance Services Limited and Cinestar Advertising Private Limited and Wavelength Television Private Limited with Vrushvik Broadcast Network Private Limited and their respective shareholders.
(3.) The Counsel for the Petitioner Companies submit that the Petitioner Companies have approved the Scheme of Amalgamation by passing the Board Resolutions which are annexed to the respective Company Scheme Petitions.;