IN RE Vs. D NAVINCHANDRA JEWELS PRIVATE LIMITED

JUDGEMENT

(1.) Heard the learned counsel for the Petitioner Companies. None appears before this Tribunal either to oppose the Scheme or to the amendments made to the Scheme of Amalgamation of D. Navinchandra Jewels Private Limited (Transferor Company V) And Kalpana International Mauritius Limited ('The Transferor Company 2') with P. D. Mehta Export Private Limited ('The Transferee Company') And Their Respective Shareholders.

(2.) The sanction of this Tribunal is sought under section 230 to 232 read with Section 234 of the Companies Act, 2013, to the Scheme of Amalgamation of D. Navinchandra Jewels Private Limited ('Transferor Company 1') and Kalpana International Mauritius Limited (The Transferor Company 2') with P. D. Mehta Export Private Limited ('The Transferee Company') And Their Respective Shareholders.

(3.) The learned Counsel for the Petitioners submit that Transferee Company is engaged in the jewellery business. The Transferor Company 1 is engaged in the business of cutting, polishing, preparing, studding furnishing of cut and uncut gems and other precious stones. The Transferor Company 2 has been carrying out the activity of promoting new companies / making strategic investments outside India.