IN RE Vs. AMPI FINANCE LIMITED

JUDGEMENT

(1.) The object of this petition is to obtain sanction of this Tribunal to the Scheme of Amalgamation to be made between the Transferee Company, AMPI Finance Limited, the Transferor Companies, AMPI Projects Private Limited, PKD Projects Private Limited, Atlantic Vintrade Private Limited, and their respective shareholders whereby and where under the entire undertaking of the Transferor Companies as a going concern together with all its assets and liabilities will stand transferred to and vested in the Transferee Company with effect from 01-04-2016, the appointed date, in a manner as provided in the Scheme of Amalgamation, duly approved by the shareholders of the petitioner companies at their respective meetings presided over by the Chairperson appointed under the Order dated 30-03-2017, as pronounced on 04-04-2017, passed by this Tribunal in the Company Application CA No. 113/2017.

(2.) A copy of the Scheme of Amalgamation is annexed with the Petition and marked with letter "A.

(3.) The Board of Directors of the Petitioner Companies have, at their respective meetings held on 24-01 -2017 by resolutions passed unanimously, approved the draft Scheme of Amalgamation of the Transferor Companies, namely, AMPI Projects Private Limited, PKD Projects Private Limited, Atlantic Vintrade Private Limited, with AMPI Finance Limited, the Transferee Company.