V. Nallasenapathy, Member - (1.) Heard the learned counsel for the Petitioner Companies. No objector has come before the Tribunal to oppose the Petitions and nor any party has controverted any averments made in the Petitions.
(2.) The sanction of the Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013 to the Scheme of Amalgamation between Loyalty Investments And Enterprises Private Limited (Transferor Company I), and Deshraj Investment And Trading Company Private Limited (Transferor Company II), and Suryalay Investment And Trading Company Private Limited (Transferor Company III), and Key To Riches Investment And Leasing Private Limited (Transferor Company IV), and NR Jet Enterprises Private Limited (Transferor Company V) with Johnson & Johnson Private Limited (Transferee Company) and their respective shareholders.
(3.) The counsel for the Petitioner Companies submits that the Transferee Company is engaged in the business of manufacturing, importing and selling health care, drugs, pharmaceutical specialty products and medical device products. The counsel further submits that Transferor Company I, Transferor Company II, Transferor Company III and Transferor Company IV are engaged in the business of making investments in affiliate companies and bank deposits. The Transferor Company V is currently not engaged in any business activities.;