IN RE Vs. KENTA PROPERTIES PRIVATE LIMITED

JUDGEMENT

(1.) The object of this Application is to ultimately obtain sanction of this Tribunal to the proposed Scheme of Amalgamation of the Transferor Company No.l, No.2, No.3, namely, KENTA PROPERTIES PRIVATE LIMITED, the Transferor Company No.l, MEHARIA CONSORTIUM PRIVATE LIMITED, the Transferor Company No. 2 and SHELL STRUCTURE PRIVATE LIMITED, the Transferor Company No.3, collectively referred to as the Transferor Companies, with NILANCHAL GRIH NIRMAN LIMITED, the Transferee Company, whereby and where under the entire undertakings of the Transferor Companies together with all their rights, interest, claims, debts and obligations relating thereto are proposed to be transferred to and vested in the Transferee Company on the terms and conditions stated in the Scheme of Amalgamation, a copy whereof is annexed with the Petition as Annexure -"I".

(2.) In order to consolidate the business and to achieve synergies in market share, obtain economies of scale, avoid and eliminate unnecessary costs, duplication of costs of administration, it is proposed to merge all the business into one single Company.

(3.) The Amalgamation of the Companies will help the Transferee Company to streamline its business and help it to carry on its business more efficiently.