TMI Blog2020 (9) TMI 711X X X X Extracts X X X X X X X X Extracts X X X X ..... ies finance of assist in subsidizing or financing the sale and maintenance of such goods - The Transferee Company's main object is to lease and hire-purchase and general finance company and to acquire and to provide on lease or to provide on hire purchase basis all types of house hold appliances industrial and office plant, equipment, machinery, vehicles, buildings and real estate required for manufacturing, processing, transportation and trading business, to finance industrial enterprises and to promote companies engaged in industrial and trading business by way of Finance. The Board of Directors of the Transferor Company have approved the present Scheme vide its Resolution dated 1st March 2018. The other necessary requirements ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Limited (Transferor Company 4) propose to get merged with M/s. Eclear Leasing and Finance Private Limited (Transferee Company) as going concerns. 2. The Transferor Company Number 1 is a private Company limited by shares, was incorporated on 22nd January 1996, under the Companies Act, 1956. The Transferor Company is having its Registered Office at 211, New Delhi House 27, Barakhamba Road, New Delhi-110001. Its Corporate Identification Number (in short CIN ) is U23203DL1996PTC075653. 3. The Transferor Company Number 2 is a private Company, was incorporated on 2nd September 1998, under the Companies Act, 1956. The Transferor Company is having its registered office at 211, New Delhi, House 27, Barakhamba Road, New Delhi-110001. Its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 2 is carrying on the business of manufacture, design, prepare, fabricate, install, equip, maintain, buy, sell, enter into collaboration, import and export, hospital, laboratory and industrial safety equipment, breathing equipment, Respiratory firefighting, first aid, fire safety, disaster safety and first aid equipment. 9. The Transferor Company Number 3 is carrying on the business of construction and infrastructure development. 10. The Transferor Company Number 4 is carrying on the business of leasing, finance, hire purchase and to finance, lease operation of all kinds of purchasing, selling, hiring or letting on hire all kinds of plant and machinery, equipment, computers, motor cars, trucks, motor lorries and to assist in financin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r or thing to be made, done or executed but subject to the changes affecting the same as on the effect date, shall stand transferred to and vested in the Transferee Company as going concerns so as to become the undertaking and property of the Transferee Company from the appointed date. 14. Further, the RD filed its report on 13.3.2020 and stated that the Transferor Companies are regular in filing the statutory returns. It has further submitted that no objection/complaint/inspection/investigation or prosecution are pending against the Transferee Company. The RD has not raised any objection with regard to the sanction of the scheme. 15. The Official Liquidator (In short, 'OL') in his Report dated 18.02.2020, based on the informa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Transferee Company shall result in following benefits such as a. consolidation and simplification of the group structure b. Synchronizing of efforts to achieve uniform corporate policy c. reducing operating and compliance costs etc. 19. There is no additional requirement for any modification and the Scheme of Amalgamation appears to be fair and reasonable and is not contrary to public policy and not violative of any provisions of law. All the statutory compliances have been made under Sections 230 to 232 of the Companies Act, 2013. 20. Taking into consideration the above facts, the Company Petitions are allowed and the Scheme of Amalgamation annexed with the Petitions is hereby Sanctioned. The Scheme approved shall be binding on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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