LAWS(NCLT)-2017-11-837

IN RE Vs. ATLAS COPCO (INDIA) LIMITED

Decided On November 30, 2017
IN RE Appellant
V/S
ATLAS COPCO (INDIA) LIMITED Respondents

JUDGEMENT

(1.) Heard the learned counsel for the Petitioner Companies. No objector has come before the Tribunal to oppose the Petition and nor any party has controverted any averments made in the Petitions.

(2.) The sanction of the Hon'ble Tribunal is sought under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013 to the of Arrangement between Atlas Copco (India) Limited ("Transferor Company") and Epiroc Mining India Limited ("Transferee Company") and their respective Shareholders ("Scheme") . I

(3.) The Counsel for the Petitioner Companies further submit that the First Petitioner Company is primarily engaged in the business of manufacturing and selling industrial gas and air compressors, vacuum solutions, industrial tools and solutions, mobile air, tools, power, pumps and light towers and mining and rock excavation (including civil construction) equipment. The Second Petitioner Company is primarily engaged in the business of manufacturing and dealing in mining equipment.