IN RE Vs. SUHAVANA DEVELOPERS PRIVATE LIMITED

JUDGEMENT

(1.) Under consideration are three Company Petitions which have been transferred from the Hon'ble High Court of Madras to this Tribunal and renumbered as TP (HC) /121,122 &123/CAA/2017. The Petitions have been filed under section 230 of the companies Act, 2013 r/w the companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The purpose of the company petitions is to obtain sanction of the scheme of Amalgamation (in Short, 'Scheme') by virtue of which M/s. Suhavana Developers Private Limited (hereafter referred to as 'Transferor Company-l') and M/s. Pradeep Shipping & Logistics Private Limited (hereafter referred to as 'Transferor Company-2') are proposed to be merged, amalgamated and vested in M/s. M/s. Trimex Industries Private Limited (hereafter referred to as 'Transferee Company') as a going concern.

(2.) The Details of Share Capital, Shareholders, Secured & Unsecured Creditors of the Companies are as under: Particulars Authorised Capital Issued, S&P Capital No. of Equity Shareholders No. of Secured Creditors No. of Unsecured Creditors Transferor Company-1 Rs. 1,00,000 Rs. 1,00,000 2 Nil 1 Transferor Company-2 Rs. 25,00,000 Rs. 1,92,000 2 Nil 6 Transferee Company Rs. 12,00,00,000 Rs. 11,95,10,660 29 6 62

(3.) The Transferor Companies No. 1, 2 and Transferee Company are Private Limited Companies having registered office at Trimex Towers, No.l, Subbaraya Avenue, C.P Ramaswamy Road, Alwarpet, Chennai-600018. The Transferor Companies-1 is engaged in the business of real estate and building townships, etc., and the Transferor Companies-2 is engaged in the business of hiring and leasing ships and acting as shipping agent etc. The Transferee Company is engaged in business of Trading Chemicals and Industrial Minerals etc. The Board of directors of petitioner companies vide its resolution dated 31.01.2017 approved the said scheme of Amalgamation.