Ratakonda Murali, Member - (1.) Originally these two Petitions were filed before the Hon'ble High Court of Karnataka and they were numbered as Co.P. No. 73/2016 &.Co.P. No. 74/2016. 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 are transferred to this Tribunal and renumbered as T.P. No. 166/2017 & T.P. No. 167/2017.
(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 Company with the Transferee Company and shall be binding upon all the Shareholders and Creditors of both the 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 for PUNE EMBASSY PROJECTS PRIVATE LIMITED (Transferor Company) with EMBASSY OFFICE PARKS PRIVATE LIMITED (Transferee Company). The Scheme of Amalgamation is shown as Annexure A.;