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2020 (9) TMI 400 - NATIONAL COMPANY LAW TRIBUNAL , CHANDIGARH BENCHSanction of composite Scheme of Arrangement for Amalgamation and Demerger - transfer of shareholding - HELD THAT:- The learned senior counsel appearing for the respondents in the CA, who are the petitioners in the CP, at the outset, submitted that notwithstanding to what is submitted in the above referred affidavits filed on behalf of the petitionercompanies since the issue of transfer of the shareholding in the Roseland Buildtech Private Limited and its four subsidiary companies is a very minor part of the scheme and that the Note 2 with reference to the Roseland Buildtech Private Limited is not an integral part of the scheme, the petitioner-companies have no objection if the CA is disposed of in terms of the alternative relief as per Para 18(b) of the CA i.e. sanctioning the scheme sans Serial No.47 i.e. Roseland Buildtech Private Limited and the Note 2 thereon in Part IV of the Schedule. The instant CA can be disposed of in terms of the alternative relief at Para 18 (b) and without going into the rival contentions - Application disposed off.
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