- (1.) Heard the learned counsel for the Petitioner Companies. No objector has come before the Tribunal to oppose the Petitions and nor any party has controverted any averments made in the Petitions.
(2.) The sanction of the Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013 and the rules made there under, to the Scheme of Amalgamation of Spear Logistics Private Limited ('the Transferor Company") and FM India Supply Chain Private Limited ('the Transferee Company') and their respective Shareholders.
(3.) The Counsel for the Petitioner Companies submit that the Transferor Company is primarily engaged in the business of warehouse management services, warehouse and distribution management services, freight management services, carrier management and transport services, secondary distribution services and all other business activities currently being undertaken by the Company. The Transferee Company has been incorporated to engage in the business of carrying all kinds of logistics services.;