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 of Scheme of Amalgamation of Manz Retail Private Limited and ESES Commercials Private Limited and PIL Industries Limited and Future Corporate Resources Limited and Gargi Business Ventures Private Limited and Weavette Business Ventures Limited with Suhani Trading and Investment Consultants Private Limited and their respective shareholders.
(2.) The sanction of this Tribunal is sought under section 230 to 232 of the Companies Act. 2013, to the Scheme of Amalgamation of Manz Retail Private Limited ('First Transferor Company') and ESES Commercials Private Limited ('Second Transferor Company') and PIL Industries Limited (Third Transferor Company') and Future Corporate Resources Limited ('Fourth Transferor Company') and Gargi Business Ventures Private Limited ('Fifth Transferor Company') and Weavette Business Ventures Limited ('Sixth Transferor Company') with Suhani Trading and Investment Consultants Private Limited ('Transferee Company') and their respective shareholders.
(3.) The learned Counsel for the Petitioners submit that the First Transferor Company, Second Transferor Company, Third Transferor Company, Fifth Transferor Company and Sixth Transferor Company are engaged in the business of fabric trading. The Fourth Transferor Company is engaged in running of loyalty program in partnership with PAYBACK, acquisition of media space rights in various publishing media houses and a model linking shopping and talking program under T24". The Transferee Company is engaged in the business of consultancy and providing advisory services;