branches, franchises and to establish, own, run, promote, conduct, business, install and maintain plants, factories, collection centers, shops, agencies, franchisees, in India or abroad for abroad for dry-cleaning, laundry, ironing, repairing or otherwise servicing all kinds of costumes, made-up, garments, fabrics and the Third Transferor Company is engaged in the business of owning, operating, maintaining, managing, leasing of Laundromats, garment dry cleaning and mending units and the Transferee Company is engaged in the business of electric, steam and general laundry and to wash, clean, purify, scour, bleach, dry-clean, starch, darn, calendar, wring, dry, iron, color, dye, disinfect, polish, mothproof, renovate, prepare for use of all articles of wearing apparel, clothes. The main benefits of the proposed Scheme of Amalgamation is that the Transferor Companies are wholly owned subsidiaries of the Transferee Company and are in similar line of business as the Transferee Company. The Transferee Company acquired the shares of the First Transferor Company and the Second Transferor Company on 1st April 2011 and acquired the shares of the Third Transferor Company on 8th June 2011. The amalgamation would enable the Transferee Company to carry on and conduct its business more efficiently and advantageously with better economies of scale, more productive and optimum utilization of various resources, strengthen its financial position and ability to raise resources for conducting business, achieve synergies in
