LAWS(NCLT)-2017-11-159

IN RE Vs. CLASSIC OIL LIMITED

Decided On November 29, 2017
IN RE Appellant
V/S
CLASSIC OIL LIMITED Respondents

JUDGEMENT

(1.) Heard learned counsel for parties. No objector has come before this Tribunal to oppose the Scheme and nor has any party controverted any averments made in the Petitions to the Amalgamation of CLASSIC OIL LIMITED, the Transferor Company No. 1 and SIGMA SOLVENTS PRIVATE LIMITED, the Transferor Company No. 2 with INDO AMINES LIMITED, the Transferee Company.

(2.) The sanction of the Tribunal is sought under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 to a Amalgamation of CLASSIC OIL LIMITED, the Transferor Company No. 1 and SIGMA SOLVENTS PRIVATE LIMITED, the Transferor Company No. 2 with INDO AMINES LIMITED, the Transferee Company.

(3.) The Petitioner Companies have approved the said Scheme of Amalgamation by passing the Board Resolutions which are annexed to the respective Company Scheme Petitions.