- (1.) The sanction of this Tribunal is sought under section 230 to 232 of the Companies Act, 2013 to the Scheme of Merger by Absorption (hereinafter as Scheme) of M/s. Parikh Petro Chemicals Agencies Private Limited (Transferor Company) with M/s. Vaani Finance and Leasing Private Limited (Transferee Company) and their respective shareholders.
(2.) The Petitioner Companies have approved the said Scheme by passing the Board Resolutions and thereafter they have approached the Tribunal for sanction of the Scheme.
(3.) The Transferor Company is engaged in the business of trading in commodities.;