Suzlon Global Services Ltd Vs Suzlon Energy Limited (NCLT Ahmedabad)
Ahmedabad Bench of NCLT in case of Suzlon Global Services Limited [C.A.(CAA)/25(AHM)/2024]:In this case, the scheme had initially specified the appointed date as December 1, 2024. However, the NCLT ordered that the appointed date be shifted to any earlier date, which the Company subsequently modified to August 15, 2024.
FULL TEXT OF THE NCLT AHMEDABAD ORDER
1. This is a Joint Company Application Viz., CA(CAA)/25(AHM)/2024 filed by the Applicant Companies, namely Suzlon Global Services Limited (for brevity “Transferor Company”), and Suzlon Energy Limited (for brevity “Transferee Company”) under section 230-232 of Companies Act, 2013, and other applicable provisions of the Companies Act, 2013 read with Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 in relation to the Scheme of Amalgamation (by way of Absorption) (hereinafter referred to as the “SCHEME”) proposed by the Applicant Companies. The said Scheme is also appended as “Annexure – H” to the typed set filed along with the Application.
2. The rationale of the Scheme of Amalgamation stated in the proposed Scheme is as under: –
2.1. The Transferee Company is primarily engaged in the business of manufacturing and supply of WTG while the Transferor Company is engaged in the business via the following undertakings, viz., OMS undertaking and other business undertakings. The Transferor Company is a wholly owned subsidiary of the Transferee Company.
