- (1.) Heard learned counsel for parties. No objector has come before this Hon'ble Tribunal to oppose the Scheme nor has any party controverted any averments made in the Petition. The sanction of the Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013 to the Scheme of Amalgamation between M/s. Skywalk Builders Private Limited and M/s. Devaangi Properties Private Limited and M/s. Ritechoice Trading Company Private Limited and M/s. Suburban Builders Private Limited and M/s. Laksh Properties Private Limited and M/s. Superline Constructions Private Limited (Transferor Companies) with M/s. Kaalkaa Real Estates Private Limited (Transferee Company) and their respective Shareholders.
(2.) Learned counsel for the Petitioners further states that the scheme envisages the amalgamation of the Transferor Companies with the Transferee Company and the amalgamation shall have the following benefits: (a) Enhanced operational. managerial, financial and technological efficiencies, improved market presence and enabling to address challenges of rising competitiveness; (b) Efficient utilisation of capital and creation of stronger platform for the separate business; (c) Facilitating a focused strategy, direction and business planning to optimize operational, managerial. financial, technological and marketing capabilities of similar business; and (d) Access to varied sources of funds for rapid growth of business.
(3.) The Petitioner Companies have approved the said Scheme of Amalgamation by passing respective Board Resolutions which are annexed to the respective Company Scheme Petitions.;