IN RE Vs. MAAN STEEL & POWER LIMITED

JUDGEMENT

(1.) The Petition had been filed before the Hon'ble High Court, Calcutta bearing Company Petition No. 1091 of 2016 connected with Company Application No. 796 of 2016 and subsequently, the said Petition had been transferred to this Tribunal bearing TP No. 156/KB/2017 for disposal.

(2.) The object of the petition bearing Company Petition No. 1091 of 2016 was to obtain sanction to a Scheme of Amalgamation of Pawanshiv Shoppers Private Limited, the Transferor Company with Maan Steel & Power Limited, the Transferee Company where all the assets, properties, rights and claims whatsoever of the Transferor Company and its entire undertaking together with all rights and obligations relating thereto are proposed to be transferred to and vested in the Transferee Company on the terms and conditions fully stated in the Scheme of Amalgamation, a copy whereof is annexed to the Petition and marked with letter "A".

(3.) The Transferee Company is engaged in the business of manufacturing of sponge iron and the Transferor Company is engaged in trading business.