Ch. Mohd. Sharief Tariq, Member - (1.) Under consideration are three Company Petition Nos. CP/155 & 156 & 157/CAA/2017 filed by above mentioned Petitioner Companies under section 230 of the Companies Act, 2013 r/w the Companies (Compromises, Arrangements and Amalgamations) Rules 2016. The purpose of the Company Petition is to obtain sanction of the Scheme of Amalgamation (in short, 'Scheme') by virtue of which M/s. Vishwatej Projects Private Limited (hereinafter referred to as ('Petitioner/Transferor Company 1') and M/s. N.K. Telecom Products Limited (hereinafter referred to as 'Transferor Company 2') are proposed to be merged, amalgamated and vested with M/s. Hexa Wind Farm Private Limited (hereinafter referred to as 'Transferee Company') as a going concern.
(2.) The details of Share Capitals, shareholders, Secured & Unsecured creditors of the Companies are as under:
(3.) Before proceeding with the matter, it is pertinent to mention the background facts of the case which needs determination. The Transferor Company 2 is an Unlisted Public Limited Company whereas the Transferor Company 1 & the Transferee Company are Private Limited Companies. The Transferor Company 1 is engaged in real estate business and Transferor Company 2 is engaged in the business of manufacturing & selling of telecommunication equipments whereas the transferee company is engaged in the business of power generation & sale of electricity. The Board of Directors of the Petitioner Companies vide its resolution dated 31.03.2017 have approved the said scheme of Amalgamation. The Transferor Company 1 & the Transferee Company are having their registered office in Chennai whereas the Transferor Company 2 is having their registered office in Madurai.;