V. Nallasenapathy, Member - (1.) Heard Learned Counsel for the 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 Arrangement of JJ POLYPLAST PRIVATE LIMITED (MJPPL' or the -Transferor Company') with AISHWARYA PLAST EXPORTS PRIVATE LIMITED APEPL or the Transferee Company") and their Shareholders.
(2.) The sanction of this Tribunal is sought under section 230-232 of the Companies Act, 2013 to a Scheme of Arrangement of JJ POLYPLAST PRIVATE LIMITED (CJJPPL' or the Transferor Company") with AISHWARYA PLAST EXPORTS PRIVATE LIMITED ('APEPL1 or the Transferee Company1) and their Shareholders.
(3.) The Petitioner Companies have approved the said Scheme of Arrangement by passing the board resolutions which are annexed to the respective Company Scheme Petitions.;