IN RE Vs. EMAMI INFRASTRUCTURE LIMITED

JUDGEMENT

(1.) The Scheme of Amalgamation envisages amalgamation of Zandu Realty Limited, the Transferor Company, with Emami Infrastructure Limited, the Transferee Company, under the provisions of Section 230 to 232 of the Companies Act, 2013 read with relevant rules made thereunder.

(2.) The objective of this Appication is to ultimately obtain the sanction of this Tribunal to a Scheme of Amalgamation proposed to be made between the Transferee Company, Transferor Company and their respective shareholders whereby and whereunder the entire undertaking of the Transferor Company with all assets and liabilities relating thereto as a going concern is proposed to be transferred to and vested in the Transferee Company.

(3.) The Board of Directors of the Applicant Companies, have, at their respective meetings held on the 1st July, 2017 by resolutions passed unanimously, approved the Scheme of Amalgamation of Zandu Realty Limited with Emami Infrastructure Limited, whereby and whereunder the entire undertaking of the Transferor Company with all the assets and liabilities relating thereto as a going concern is proposed to be transferred to and vested in the Transferee Company.