- (1.) Heard Advocate for the parties. Neither any objector has come before the Hon'ble Tribunal to oppose the Scheme of Amalgamation nor has any party controverted any averments made in the Petitions.
(2.) The sanction of the Hon'ble Tribunal is sought under Section 230 to 232 of the Companies Act, 2013 to the Scheme of Amalgamation of Intelligent Conveyors and Stackers Private Limited, the Transferor Company with Intech Surface Coating Private Limited, the Transferee Company and their respective shareholders and creditors.
(3.) The Learned Advocate for the Petitioner Companies state that the Transferor Company is engaged in the business of manufacturing, importing, exporting, buying, selling and repairing and dealing in roller-conveyors, screw conveyors, slat conveyors, wire-mesh belt conveyors, bucket conveyors, elevators, idlers, loaders, triplets, packing machine, stackers, etc. and the Transferee Company is engaged in the business of manufacturing of surface coating plants and equipments, powder coating plants and equipments and liquid coating plants and equipments, etc.;