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.299/2016 & Co.P.No.300/2016. Subsequently as per Notification No. GSR. 1119 (E) dated 7th December 2016 issued by Ministry of Corporate Affairs, New Delhi, the said cases are transferred to this Tribunal and renumbered as T.P.No.220/17 &221/17 respectively. Company Petition No.9/BB/2017 was filed before this Tribunal.
(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 of the scheme of Amalgamation of the Transferor Company No.l & Transferor Company No.2 with the Transferee Company and shall be binding upon all the Shareholders and Creditors of the Companies.
(3.) The averments made in the Company Petitions are briefly described hereunder:;