ABHILASHA TEX-CHEM LIMITED Vs. VALIANT ORGANICS LIMITED

JUDGEMENT

(1.) Heard the [earned 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 Scheme of Amalgamation of Abhilasha Tex-Chem Limited (Transferor Company) with Valiant Organics Limited (Transferee Company) and their respective shareholders and creditors.

(3.) The learned Counsel for the Petitioners submits that the Transferor Company is engaged in the business of Specialty chemical intermediate. The Transferee Company is engaged in the business of manufacturing and marketing of different types of chlorophenol which is a chemical which has several applications mainly into agro-chemical industry with a single location manufacturing facility at Sarigam Industrial Estate.