IN RE Vs. EPS ATM SERVICES PRIVATE LIMITED

JUDGEMENT

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

(2.) The sanction of this Tribunal is sought under section 230 to 232 of the Companies Act, 2013, to the Scheme of Amalgamation amongst EPS ATM Services Private Limited and Electronic Payment and Services Private Limited and their respective shareholders.

(3.) The learned Counsel for the Petitioners submit that the Transferor Company is engaged in the business of providing services namely operation, maintenance, repairs, etc. covered under ATM Operations and management services. The Transferee Company is engaged in the business of providing an integrated solution which includes operation, maintenance and management of ATMs in all developed as well as remote areas.