B.S.V. Prakash Kumar, Member - (1.) Heard the learned counsel for the Petitioner Companies, None appears before this Tribunal either to oppose the Scheme or to contravene averments made in the Petition.
(2.) The sanction of this Tribunal is sought under section 230 to 232 of the Companies Act, 2013, to the Scheme of Amalgamation of Aura Real Estate Private Limited (Transferor Company) and Kalpataru Retail Ventures Private Limited (Transferee Company) and their respective Shareholders.
(3.) The learned Counsel for the Petitioners submit that the Transferor Company is engaged in the business of real estate development and the Transferee Company is also engaged in the business of real estate development.;