IN RE Vs. BHUMIKA BUSINESS PRIVATE LIMITED

JUDGEMENT

(1.) This is an Application under Sections 230(1) and 232(1) of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 filed by the Applicant Nos. 1 and 2, namely, (1) Bhumika Business Private Limited (Transferor Company) ,and (2) Shyamsukha Builders Private Limited (Transferee Company) and their respective shareholders in connection with a proposed Scheme of Amalgamation (Annexure E) whereby and where under it is proposed to amalgamate Bhumika Business Private Limited-"BBPL" (Transferor Company) with Shyamsukha Builders Private Limited-"SBPL" (Transferee Company) with all assets and liabilities relating thereto as a going concern.

(2.) The object of this Application is to ultimately obtain sanction of this Tribunal to the proposed Scheme of Amalgamation to be made between the Transferor Company, Transferee company and their respective shareholders whereby and where under the entire undertaking of the Transferor Company with all assets and liabilities relating thereto as a going concern is proposed to be transferred to and vested in the Transferee Company.

(3.) It is stated in the Application that the amalgamation would result in consolidation of business. Further, the amalgamation will provide a high level of synergistic integration of operations and better operational management.