Ina Malhotra, Member - (1.) The present Scheme provides for amalgamation of Utkarsh Advisory Services Private Limited ('the Transferor Company" or 'the First Applicant Company') with JSW Paints Private Limited ('the Transferee Company' or 'the Second Applicant Company') and various other matters consequential to amalgamation or otherwise integrally connected therewith. The learned Counsel for the Applicant Companies states that the First Applicant Company is engaged in the business of providing advisory services and the Second Applicant Company is into the business of manufacturing of Paints and related products.
(2.) The rationale for the Scheme is to achieve the following benefits: a) Simplified corporate structure; b) Elimination of holding through multiple entity i.e. streamlining promoter holding; and c) Rationalization of management and other operating expenses
(3.) The meeting of the Equity Shareholders of the First Applicant Company be convened and held at JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai-400 051, on 1st day of August, 2017 at 10:00 a.m. for the purpose of considering and, if thought fit, approving with or without modification(s) the proposed Scheme of Amalgamation between Utkarsh Advisory Services Private Limited (Transferor Company) and JSW Paints Private Limited (Transferee Company) and their respective Shareholders.;