IN RE Vs. SONODYNE ELECTRONIC CO PRIVATE LIMITED

JUDGEMENT

(1.) This is an Application under Sections 230(1) and 232(1) ot the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 filed by the Applicant Nos. 1 and 2, namely, (1) SONODYNE ELECTRONIC CO. PRIVATE LIMITED (SECPL) ("Transferor Company") and (2) SONODYNE TECHNOLOGIES PRIVATE LIMITED (STPL) ("Transferee Company) and their respective shareholders in connection with a proposed Scheme of Amalgamation (Annexure E) whereby and where under it is proposed to amalgamate SECPL with the Transferee Company (STPL) with all assets and liabilities relating thereto as a going concern.

(2.) A copy of the Scheme of Amalgamation is annexed with the Application as Annexure- "E" at pages 156-189 of the Application.

(3.) The object of this Application is to ultimately obtain sanction of this Tribunal to the proposed Scheme of Amalgamation to be made between the Transferor Company, Transferee company and their respective shareholders whereby and where under the entire undertaking of the Transferor Company with all assets and liabilities relating thereto as a going concern is proposed to be transferred to and vested in the Transferee Company.