IN RE Vs. JM FINANCIAL INSTITUTIONAL SECURITIES LIMITED

JUDGEMENT

(1.) Heard the learned counsel for the Petitioner Companies. None appears before the Court to oppose the Scheme or to contravene averments made in the Petition.

(2.) The sanction of the Tribunal is sought under section 230 to 232, of the Companies Act, 2013. to the Scheme of Amalgamation of JM Financial Institutional Securities Limited and JM Financial Investment Managers Limited and JM Financial Limited and their respective shareholders.

(3.) Learned Counsel for the Petitioner Companies states that the First Transferor Company is a SEBI Registered Category I Merchant Banker and a SEBI registered stock broker entity. The Second Transferor Company is engaged in the business of private equity fund management. The Transferee Company is a Core Investment Company ('CIC') registered with Reserve Bank of India.