B.S.V. Prakash Kumar, Member - (1.) Heard the learned counsel for the Petitioner Companies.
(2.) The sanction of the Tribunal is sought under Sections 230 to 232 read with section 52 and other applicable provisions of the Companies Act, 2013, to the Scheme of Arrangement between Mahindra Two Wheelers Limited ("the Petitioner/Demerged Company") and Mahindra & Mahindra Limited ("the Petitioner/Resulting Company") and their respective Shareholders and Creditors ("Scheme").
(3.) Learned Counsel for the Petitioner Companies states that the Petitioner/Demerged Company is engaged in the businesses of manufacturing and selling of two wheelers ("Two Wheelers Business") and trading in spare parts and accessories ("MTWL Spares Business"). The Petitioner/Transferee Company is inter-alia engaged in the business of manufacture and sale of tractors, general-purpose utility vehicles fight commercial vehicles three-wheelers and trucks and buses.;