Ratakonda Murali, Member - (1.) Originally this Company Petition was filed before the Hon'ble High Court of Karnataka at Bengaluru and it was numbered as Co.P. No. 106/2016. Subsequently as per Notification No. GSR. 1119(E) dated 7th December 2016 issued by the Ministry of Corporate Affairs, New Delhi, the said case is transferred to this Tribunal and renumbered as T.P. No. 299/2017.
(2.) This Company Petition was filed on behalf of the Petitioner Company under Section 391-394 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959, praying to order for sanctioning the Scheme of Amalgamation of the Transferor Company (Petitioner Company) with the Transferee Company and shall be binding upon all the Shareholders and Creditors of the Petitioner Company.
(3.) The averments made in the Company Petition are briefly described hereunder:- The Petitioner Company seeks an order for sanctioning the Scheme of Amalgamation of SASKEN NETWORK ENGINEERING LIMITED (Petitioner/Transferor Company) with SASKEN COMMUNICATION TECHNOLOGIES LIMITED (Transferee Company). The Scheme of Amalgamation is shown as Annexure A.;