FORBES & COMPANY LIMITED vs FORBES PRECISION TOOLS AND MACHINE PARTS LIMITED

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2024 Supreme(Online)(NCLT) 1623

NATIONAL COMPANY LAW TRIBUNAL
Ms. Reeta Kohli, Member (Judicial), Ms. Madhu Sinha, Member (Technical)
FORBES & COMPANY LIMITED – Appellant
Versus
FORBES PRECISION TOOLS AND MACHINE PARTS LIMITED – Respondent

Advocates:
For the Petitioners: Mr Ahmed M Chunawala

Table of Content
1. scheme of arrangement overview (Para 1 , 2 , 3 , 4)
2. arguments supporting the scheme (Para 5 , 6 , 8 , 10 , 11)
3. court's observations and compliance confirmations (Para 12 , 13 , 14 , 15 , 16 , 17)
4. final outcome of the case (Para 18)

ORDER

Per: Madhu Sinha, Member (Technical

1. The Bench is conveyed by Physical hearing today.

2. Heard the Learned Counsel for the Petitioner Companies. No objector has come before this Tribunal to oppose the Scheme and nor has any party controverted any averments made in the Petitions to the said Scheme.

3. The sanction of the Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013 and other relevant provisions of the and the rules framed there under for the Scheme of Arrangement between FORBES & COMPANY LIMITED, the Demerged Company and FORBES PRECISION TOOLS AND MACHINE PARTS LIMITED, the Resulting Company and their respective shareholders.

4. The Petitioner Companies have approved the said Scheme of Amalgamation by passing the Board Resolutions dated 26^th September, 2022 which are annexed to the respective Company Scheme Petitions.

5. The Learned Counsel appearing on behalf of the Petitioners states that the Petitio