IN RE Vs. AERIAL TOWER PRIVATE LIMITED

JUDGEMENT

(1.) By this application the Applicants jointly praying the sanction of this Tribunal to a Scheme of Amalgamation of M/s. Aerial Tower Private Limited, the Transferee Company and Applicant Company No.l, with Linkstar Homes Private Limited, the Transferor Company and the Applicant No.2, Muchmore Hirise Private Limited, the Transferor Company and the Applicant No.3 and Optimax Homes Private Limited, the Transferor Company and the Applicant No.4, and their respective shareholders and creditors, whereby and where under all the undertakings of the Transferor Companies, together with all the assets and liabilities relating thereto as going concern, is proposed to be transferred to and vested in the Transferee Company on the terms and conditions fully stated in the Scheme of Amalgamation, which is attached with the Application and marked as "Annexure A-43".

(2.) It is stated in the Petition that the Scheme of Amalgamation will be of benefit to all concerned and is not opposed to public policy. The respective Board of Directors of the Transferee and the Transferor Companies have passed the Scheme of Amalgamation at their meeting held on 09-10-2017.

(3.) The Transferee and the Transferor Companies are under the same management group and the Directors and the shareholders are common also. Therefore, the amalgamation of the Transferor Companies with Aerial Tower Private Limited, will combine synergies and enable the amalgamated company to focus on its business of Real Estate-Development and Trading of Land and Building and other business.