IN RE Vs. PHOENIX LAMPS LIMITED AND ORS

JUDGEMENT

(1.) Originally these Company Petitions were filed before the Hon'ble High Court of Karnataka and were numbered as Co.P. No. 245/2016 and 246/2016. Subsequently as per Notification No. GSR. 1119(E) : MANU /DCAF/0145/2016 dated 7th December 2016 issued by the Ministry of Corporate Affairs, New Delhi, the said cases were transferred to this Tribunal and renumbered as T.P. No. 208/2017 and 209/2017.

(2.) These Company Petitions were filed on behalf of the Petitioner Companies under Section 391-394 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959, praying to order for sanctioning the Scheme of Amalgamation of the Transferor Company with the Transferee Company and shall be binding upon all the Shareholders and Creditors of the Petitioner Company.

(3.) The averments made in the Company Petitions are briefly described hereunder:-