- (1.) The instant application has been filed by the Transferor Companies/Petitioner Nos. 1 and 2, namely, (1) Security and Intelligence ServicesfIndia) Limited and (2) Service Master Clean Limited and the Transferee Company, namely, SIS Asset Management Private Limited jointly and their respective shareholders and creditors under Sections 230 to 232 read with Section 52 and Section 66 of the Companies Act, 2013 whereby and where under the Non-Core Business undertakings of the Transferor Companies together with all their assets and liabilities relating thereto as going concern is proposed to be transferred to and vested in the Transferee company on the terms and conditions fully stated in the Composite Scheme of Arrangement without being wound up, as annexed with the petitioner and marked as "Annexure 1".
(2.) The said scheme of arrangement was proposed by the Board of D'rectors of the Transferor companies and the Transferee Company respectively.
(3.) It is stated in the petition that the proposed re-alignment will create enhance the value for all stakeholders of the petitioner companies as it would facilitate focused strategy, direction and business planning to optimize operational, managerial, financial, technical and marketing capabilities of each business. It will help in optimization of the resources and reduction of the operational costs.;