IN RE Vs. AUXIN ENGINEERING LIMITED AND ORS

JUDGEMENT

(1.) The Petitioner Companies tiles Joint application under Section 230-232 of the Companies Act, 2013 read with National Company Law Tribunal Rules, 2016 along with the Companies (Compromise, Arrangements and Amalgamations Rules), 2016, praying for approval and sanction of the proposed Scheme of Arrangement for the Amalgamation of AUXIN ENGINEERING LIMITED (Petitioner No. 1) UPHILL FARMS PRIVATE LIMITED (Petitioner No. 2) and OASIS GRASSLAND PRIVATE LIMITED (Petitioner No. 3).

(2.) The Petitioner Company further submits that the Board of Directors of the Petitioner Companies in its meeting held on March 24, 2017 has already approved the proposed Company Scheme.

(3.) The main object, salient features as well as rationale of the proposed Scheme of amalgamation is described as under: