Bhaskara Pantula Mohan, Member - (1.) The sanction of this Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013, Scheme of Amalgamation of M/s. Nishkama Jagruti Developers Private Limited (Transferor Company) with M/s. Powerica Sales and Services Private Limited (Transferee Company).
(2.) The Transferor Company and the Transferee Company have approved the said Scheme of Amalgamation by passing the Board Resolutions which are annexed to the respective Company Scheme Petitions.
(3.) The Transferor Company was engaged in the business to buy, develop, or otherwise deal in lands, flat, marionettes, etc. At present the Transferor Company is not doing any business.;