IN RE Vs. GTL INFRASTRUCTURE LIMITED

JUDGEMENT

(1.) The sanction of this Tribunal is sought under Sections 230 to 232 of the Company Act, 2013, to a Scheme of Arrangement of Chennai Network Infrastructure Limited (The Transferor Company) and GTL Infrastructure Limited (The Transferee Company) and their respective shareholders and Creditors.

(2.) The Petitioner Company have approved the said Scheme of Arrangement by passing the Board Resolutions and thereafter they have approached the Tribunal for sanction of the Scheme.

(3.) Both the Transferor Company and Transferee Company are engaged in business of building, maintaining and providing telecommunication infrastructure facilities to telecommunication service providers.