- (1.) Heard learned counsel for parties. No objector has come before this Hon'ble Tribunal to oppose the Scheme nor has any party controverted any averments made in the Petition.
(2.) The sanction of the tribunal is sought under Sections 230 to 232 of the Companies Act, 2013 to a Scheme of Amalgamation between IIFL Properties Private Limited (Formerly known as 'Ultra Sign and Display Private Limited') with IIFL Facilities Services Limited (Formerly known as 'IIFL Realty Limited') and their respective shareholders.
(3.) Learned counsel for the Petitioners states that the Transferor Company is engaged in the business of providing property and related infrastructure facility services mainly to group companies and the Transferee Company is engaged in the business of providing office and infrastructure related facility services mainly to group companies and providing property advisory, consultancy and allied services.;