LAWS(NCLT)-2017-11-847

IN RE Vs. BULK BAGS INDIA LIMITED

Decided On November 30, 2017
IN RE Appellant
V/S
BULK BAGS INDIA LIMITED Respondents

JUDGEMENT

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

(2.) The sanction of the Tribunal is sought under Sections 230 to 232 of the Companies Act. 2013 to the Scheme of Amalgamation of Bulk Bags India Limited with Shankar Packagings Limited and their respective shareholders.

(3.) Learned counsel for the Petitioners states that Transferor Company is engaged in the business of manufacturing, proeessing, purchasing, selling, importing, exporting. getting goods manufactured or processed by outside parties on work contacts basis and dealing in films, bags, woven fabrics, woven sacks, flexible bulk containers, jumbo bags, taipaalins, rops, pipes fitting devices and various packaging and sundry materials. chemicals, petrochemicals additives such as high density polypropylene, polyester, nylon. P.V.C. and various other petrochemicals and their derivatives in combination or otherwise with non plastic materials like papers, cardboards, hessian, cotton, bitumen. The Transferee Company is engaged in the business of manufacturing, processing. purchasing, selling, importing, exporting and dealing in films, bags, woven fabrics, woven sacks, flexible bulk containers, jumbo bags, tarpaalins. rops, pipes fitting devices and various packaging and sundry materials, chemicals, petrochemicals additives such as high density polypropylene, polyester, nylon, P.V.C. and various other petrochemicals and their derivatives in combination or otherwise with non plastic materials like papers, cardboards, hessian, cotton, bitumen.