IN RE Vs. TULGA VACUUM PUMPS LIMITED

JUDGEMENT

(1.) Heard Advocate for the parties. Neither any objector has come before the Hon'ble Tribunal to oppose the Scheme of Amalgamation nor has any party controverted any averments made in the Petitions.

(2.) The sanction of the Hon'ble Tribunal is sought under Section 230 to 232 of the Companies Act, 2013 to the Scheme of Amalgamation of Tulga Vacuum Pumps Limited, the Transferor Company with Vacuum Plant and Instrument Manufacturing Company Limited, the Transferee Company and their respective shareholders and creditors.

(3.) The Share exchange ratio as mentioned in Clause 6.1 of the Scheme of Amalgamation is 1.65 Equity Shares of Rs.100/- (Rupees Hundred) each credited as fully paid up of the Transferee Company in lieu of 100 Equity Shares of Rs.100/- (Rupees Hundred) each held in the Transferor Company.