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NATIONAL COMPANY LAW TRIBUNAL
Bidisha Banerjee, Member (Judicial), D. Arvind, Member (Technical)
SAI SURFACTANTS PVT LTD VS
| Table of Content |
|---|
| 1. scheme of amalgamation filed for approval. (Para 1 , 2) |
| 2. arguments supporting the necessity of the scheme. (Para 3) |
| 3. compliance with statutory requirements confirmed. (Para 4 , 5 , 6) |
| 4. court's decision rationale on approval. (Para 7 , 8) |
| 5. final approval and implementation of the scheme. (Para 9 , 10) |
ORDER
Per:Bidisha Banerjee, Member (Judicial)
1. The instant Company Petition has been filed under Section 230 to 232 of the Companies Act, 2013 (“Act”) for sanction of the Scheme of Arrangement between Sai Surfactants Pvt Limited (Transferee Company/Petitioner 1) and Sai Bulk Bags Private Limited (Transferor Company1/ Petitioner 2), Bhagirathi Packaging Private Limited (Transferor Company 2/ Petitioner 3) and their respective shareholders. The Scheme provides for merger of Petitioners 2 and 3 with the Transferee Company from the Appointed Date, viz 1st April, 2022 in the manner and on the terms and conditions stated in the said Scheme of Arrangement (“Scheme”).
Details of the Petitioner Companies are as follows:
| S.No | NAME OF COMPANY | PARTY RELEVANT | TYPE | ANNEXURE | VOLUME OF THE COMPANY PETITION | Page No. | Appointed Date |
|---|---|---|---|---|---|---|---|
| 1 | Sai Surfactants Private Limited | Petitioner | Scheme of Amalgama |
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