- (1.) Heard the learned counsel for the Petitioner Companies. None appears before this Tribunal either to oppose the Scheme or to contravene averments made in the Petition of Scheme of Arrangement between Nilkanth Tech Park Private Limited and Seamless Capsules Private Limited and their respeclive shareholders.
(2.) The sanction of this Tribunal is sought under section 230 to 232 of the Companies Act, 2013, to the Scheme of Arrangement between Nilkanth Tech Park Private Limited ("Demerged Company") and Seamless Capsules Private Limited ("Resulting Company") and their respective shareholders.
(3.) The learned Counsel for the Petitioners submits that the Demerged Company and the Resulting Company are engaged in the business of real estate development.;