IN RE Vs. BANSAL POLES LIMITED

JUDGEMENT

(1.) This is a joint application filed by the applicants for sanctioning of the Scheme for Amalgamation of M/s. Bansal Poles Limited, Transferee Company and the Applicant No.1 with Giriraj Goods Private Limited, Transferor Company and Applicant No.2 under the provisions of the Companies Act, 2013 whereby and where under all the undertakings of the Transferor Company together with all the assets and liabilities relating thereto as going concern is proposed to be transferred to and vested in the Transferee Company on the terms and conditions fully stated in the Scheme of Amalgamation (with effect from the Transfer Date or Appointed Date being Ist April, 2017) , annexed with the Application as "Annexure A-25".

(2.) It is stated by the applicant that the aforesaid Scheme of Amalgamation will be of benefit to all concerned and is not opposed to public policy.

(3.) It is submitted by the Applicants that the Balance Sheet of Bansal Poles Limited, the Transferee Company and Giriraj Goods Private Limited, Transferor Company, as on 31 -03-2017, have been duly audited and the audited balance sheet as on the said date, related statement of profit and loss accounts and the auditor's report thereon are annexed with the application marked "Annexure A-26" and "Annexure A-28".