IN RE Vs. MAHINDRA TELECOMMUNICATIONS INVESTMENT PRIVATE LIMITED

JUDGEMENT

(1.) Heard the learned counsel for the Petitioner Companies. None appears before the Court to oppose the Scheme or to contravene averments made in the Petition.

(2.) The sanction of the Tribunal is sought under section 230 to 232, of the Companies Act, 2013, to the Scheme of Amalgamation'of Mahindra Telecommunications Investment Private Limited and Gateway Housing Company Limited with Mahindra Holdings Limited and their respective shareholders .

(3.) The learned Counsel for Petitioners submit that Transferor Company 1 - engaged in the business of other financial services, activities except msurance and pension funding activities. Transferor Company 1 is a wholly owned subsidiary of Mahindra Holdings Lotted. Transferor Company 2 is primarily engaged in the business of aggregators of goods and providing all types of mobility advertising and transportation related services for all types of goods and materials and digital or logistic solutions. The Transferee Company is engaged in the business of Investment in Mahindra Group companies. Post sanctioning of the Scheme the entire share capital of the Transferor Companies held by the Transferee Company shall stand cancelled.