IN RE Vs. DILIJAY MAXTRADE PRIVATE LIMITED

JUDGEMENT

(1.) The Course, for the Applicants sta.es that the present Scheme ,s an Amalgamation of D.hjav Maxtrade Pnvate Llm'ed(,he' Transferor Company, and Sushama Estate Investments Private LimttedCthe Transferee Company, and their respective Sharehoiders

(2.) The Counsel for the Applicants further submit that the Transferor Company is engaged in the business of exporrers, importers, distributors, merchants, trafers, stockiest and to buy, sell, distribute or otherwise deal in commodities, goods, articles and such other things of every description and kind And the Transferee Company is primary engaged in the business establishing maintaining, conducting and carrying the business of estate owners and estate developers.

(3.) The rationale for the Scheme is that with a view to maintain a simple corporate structure and eliminate duplicate corporate procedures it is desirable to merge and amalgamate all the undertakings of Transferor Company with Transferee Company. The amalgamation of all undertaking of Transferor Company into the Transferee Company shall facilitate consolidation of all the undertakings in order to enable effective management and unified control of operations. Further, the amalgamation would create economies in administrative and managerial costs by consolidating operations and would substantially reduce duplication of administrative responsibilities and multiplicity of records and legal and regulatory compliances.