IN RE Vs. PLYMEX TRADING PRIVATE LIMITED

JUDGEMENT

(1.) This Application has been filed jointly by the petitioners, namely, Plymex Trading Private Limited (hereinafter referred to as the "Transferee Company") and Afro Asian Timber Products Private Limited (hereinafter referred to as the "Transferor Company") for obtaining sanction of this Tribunal regarding Scheme of Amalgamation of the transferor company with the transferee company.

(2.) The object of this Application is to ultimately obtain sanction of the Tribunal to the Scheme of Amalgamation whereby the Transferor Company will be amalgamated with the Transferee Company with effect from Transfer date or Appointed date being 1st April, 2017 on the terms and conditions fully stated in the Scheme of Amalgamation. A copy whereof has been annexed and marked with letter "E" to this Application. All the Applicants have filed their Memorandum and Articles of Association. Copies of the Memorandum and Articles of Association of the Applicant Companies have been filed and annexed with the Application as Annexure 'C.

(3.) The copies of the Audited Balance Sheet and Statement of Profit & Loss A/c. of the Applicant Companies along with the Auditor's report as on 31st March, 2017 have been filed before the Tribunal. Copies of Board of Resolution of Transferee Company and the Transferor Company have been submitted and marked as Annexure 'F' to the Application.