IN RE Vs. DP WORLD PRIVATE LIMITED

JUDGEMENT

(1.) Heard learned counsel for parties. No objector has come before this Hon'ble Tribunal to oppose the Scheme and nor has any party controverted any averments made in the Petition.

(2.) The sanction of the Tribunal is sought under Sections 230 to 232 read with Section 66 of the Companies Act, 2013 to a Scheme of Arrangement in the nature of Amalgamation of South Asia Port Limited (Transferor Company I) , P&O Ports (Kulpi) Limited (Transferor Company II) , DP World Private Limited (Transferor Company III) , P&O Ports (Mundra) Private Limited (Transferor Company IV) and P&O Ports (Chennai) Limited (Transferor Company V) with Hindustan Ports Private Limited (Transferee Company) and their respective Shareholders.

(3.) The Counsel for Petitioners submit that Petitioner/Transferor Company III is engaged in the business relating to ports including participation in bidding, exploring markets and business possibilities, co-ordinating and assisting persons, setting up or managing ports. The Transferee Company is engaged in the business of investment and development of port infrastructure.