IN RE Vs. PAM INDTECH MACHINES PRIVATE LIMITED

JUDGEMENT

(1.) Heard the learned counsel for the Petitioner Companies. None appears today before this Tribunal either to oppose the Scheme or to contravene averments made in the Petition of Scheme of Arrangement between PAM Indtech Machines Private Limited ("Transferor Company") and ACG Pharma Technologies Private Limited ("Transferee Company") and their respective shareholders.

(2.) The sanction of this Tribunal is sought under section 230 to 232 of the Companies Act, 2013, to the Scheme of Arrangement between PAM Indtech Machines Private Limited and ACG Pharma Technologies Private Limited and their respective shareholders.

(3.) The learned Counsel for the Petitioner Companies submit that the Transferor Company is primarily incorporated for carrying on the business of manufacturing, fabricating, assembling, repairing, buying, selling, reselling, exchanging, altering, importing, exporting, hiring, letting on hire or distributing or dealing in industrial machinery and components, spare parts, fittings and accessories thereof including packaging machines for pharmaceutical, cosmetics and food industry. The Transferee Company is primarily incorporated for carrying on the business of manufacturing FBE (Fluid Bed Equipment) , fluid bed processors and tablet-coating systems for India and some selected international markets,