B.S.V. Prakash Kumar, Member - (1.) Heard the learned counsel for the Petitioner Companies. None appears before the Court to oppose the Scheme or to contravene averments made in the Petition.
(2.) The sanction of the Tribunal is sought under section 230 to 232 of the Companies Act, 2013. to the Scheme of Amalgamation of Kundan Realtors Private Limited and Jawala Real Estate Private Limited and Lodha Aviation Private Limited and Sarvavasa Buildtech & Farms Private Limited with Lodha Developers Private Limited and their respective shareholders and creditors.
(3.) Learned Counsel for the Petitioner Companies states that the First Transferor Company was incorporated with the main object of real estate development and construction activities and is presently not engaged into any business activities. The Second Transferor Company was incorporated with the main object of real estate development and construction activities and presently it is engaged into real estate activities. The Third Transferor Company was incorporated with the main object of providing aviation related activities. The Fourth Transferor Company was incorporated with the main object to carry on the business of real estate development and construction activities and presently it is engaged in real estate activities and trading of building materials. The Transferee Company was incorporated with the main objective of real estate development and construction related activities and it is primarily engaged in the business of property development, sale of land and development rights and sale of construction material.;