IN RE Vs. PALAVA DWELLERS PRIVATE LIMITED

JUDGEMENT

(1.) The sanction of this Tribunal is sought under Sections 230 to 232 of the Companies Act. 2013. to the Composite Scheme of Amalgamation and Arrangement between Paiava Dwellers Private Limited (First Amalgamating Company) and Microtec Constructions Private Limited (Second Amalgamating Company) and Bellissimo Hi-Rise Builders Private Limited (Third Amalgamating Company) and Lodha Estate Private Limited (Fourth Amalgamating Company) and Samvara Buildtech Private Limited (Fifth Amalgamating Company) (hereinafter collectively referred to as (Amalgamating Companies) and Lodha Developers Private Limited (Amalgamated Company Transferor Company) and EISA Trading Private Limited (Transferee Company) and their respective shareholders and creditors.

(2.) The Petitioner Companies have approved the said Composite Scheme of Amalgamation and Arrangement by passing the Board Resolutions and thereafter they have approached the Tribunal for sanction of the Scheme.

(3.) The First Amalgamating Company. Second Amalgamating Company. Third Amalgamating Company, Fourth Amalgamating Company and the Fifth Amalgamating Company are all currently engaged in the business of real estate development and construction activities.