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NATIONAL COMPANY LAW TRIBUNAL
SHRI ANIL RAJ CHELLAN, HON’BLE MEMBER (TECHNICAL), SHRI K. R. SAJI KUMAR, HON’BLE MEMBER (JUDICIAL)
Mehul Finance and Investments Private Limited – Appellant
Versus
Polyset Plastics Private Limited – Respondent
| Table of Content |
|---|
| 1. tribunal's jurisdiction and duty in sanctioning amalgamations. (Para 1 , 2 , 7) |
| 2. assessment of the scheme's rationale and alignment with legal provisions. (Para 4 , 5 , 6 , 8 , 12 , 14) |
| 3. procedural requirements following the sanction of amalgamation. (Para 15 , 16 , 17 , 18 , 20) |
ORDER
1. Sanction of this Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013 (Act) to the Scheme of Amalgamation of Mehul Finance and Investments Private Limited (Transferor Company) with Polyset Plastics Private Limited (Transferee Company) and their respective Shareholders.
2. Heard the Ld. Counsel for the Applicant Companies. No objection has been received by the Tribunal opposing the Company Scheme Application or has any party controverted any averments made in the Company Scheme Application.
3. The registered office of the First Applicant Company and the Second Applicant Company is situated in the State of Maharashtra and hence the subject matter of the Application is within the jurisdiction of the National Company Law Tribunal, Mumbai Bench.
4. It is observed that the Board of Directors of the Applicant Companies have approved the Scheme in their respective Board
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