- (1.) The sanction of this Tribunal is sought under section 230 to 232 of the Companies Act, 2013, and Section 66 of the Companies Act,2013 to the Composite Scheme of Arrangement and Amalgamation of Aswa Corporate Consulting Private Limited (Transferor Company) with Bliss City Home Private Limited (Transferee Company) and their respective shareholders and creditors for Amalgamation of Aswa Corporate Consulting Private Limited with Bliss City Home Private Limited and reduction of Preference Share Capital of Bliss City Home Private Limited as an integral part of the Scheme.
(2.) The Petitioner Companies have approved the said Composite Scheme of Arrangement and Amalgamation by passing the Board Resolutions and thereafter they have approached the Tribunal for sanction of the Scheme.
(3.) The Transferor Company is presently carrying on the business of investment activities.;