IN RE Vs. WOOLVEST MERCHANDISE PRIVATE LIMITED

JUDGEMENT

(1.) The object of this application is to ultimately obtain sanction of this Tribunal to the Scheme of Amalgamation whereby the TRANSFEROR COMPANY, namely, Garemohan Tie-up Private Limited, will be merged / amalgamated with the TRANSFEREE COMPANY, namely, Woolvest Merchandise Private Limited, with Transfer Date or Appointed Date being 01st April, 2015.

(2.) It is stated in the application that the TRANSFEROR COMPANY and TRANSFEREE COMPANY are engaged in the business of Non-Banking Financial & Investment activities. The business of the TRANSFEROR COMPANY and the TRANSFEREE COMPANY can be combined and carried forward conveniently with combined strength.

(3.) It is stated in the application that the Scheme of amalgamation will result in economy of scale including reduction in overhead expenses relating to management and administration in better and more productive utilisation of various resources.