IN RE Vs. GAVRILL METAL PRIVATE LIMITED

JUDGEMENT

(1.) This application has been filed by the Applicant Companies, namelyJKP Enterprises Private Limited, Reward Dealcomm Private Limited, Rockland Suppliers Private Limited, Shivsathi Sales Limited, Shivsathi Vyapaar Limited, Windson Vanijya Private Limited (herein the "Transferor Companies") with Gavrill Metal Private Limited (herein the "Transferee Company") under Section 230 to 232 of the Companies Act,2013 for obtaining sanction of this Tribunal regarding Scheme of Amalgamation of the above mentioned companies where under and whereby the entire undertaking of the Transferor Companies with all assets and liabilities relating thereto as a 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, a copy whereof is annexed with the Application and marked "Q".

(2.) It is stated in the petition that the amalgamation will enable the companies to expand its business activities by pooling their resources at one place. For the purposes of better, efficient and economical management, control and running of the business of the undertakings concerned and for administrative convenience and to obtain advantage of economy of large scale and to broad base the present business, the present Scheme of Amalgamation is proposed to amalgamate the Transferor Companies with the Transferee Company.

(3.) The Scheme of Amalgamation will have beneficial results for the companies concerned, their shareholders, employees and all concerned.