KRITA ENGINEERING (P.) LTD., IN RE Vs. ABC

JUDGEMENT

(1.) The applicant/transferor company is seeking for sanction of Composite Scheme of Arrangement for transfer of its Northern Eastern Business Division of the transferor company to A to Z Infracon Private Limited - the transferee company.

(2.) Transferor company - M/s. Krita Engineering Private Limited was incorporated on 08.10.1990 in the State of Karnataka. Its aims and objects as per the Memorandum and Articles of Association produced at Annexure-B would indicate that it is carrying the business of manufacturers, designers, dealers, importers and exporters of machines, etc., as more-fully enumerated therein. Registered office of the transferor company is situated at the address shown in the cause title of company petition and details of share capital of the petitioner company as on 31.03.2011 is as under:

(3.) The unaudited balance sheet of transferor company covering the period 01.04.2011 to 30.11.2011 is appended to the petition as per Annexure-C and audited balance sheet of transferee company made upto 31.03.2011 is at Annexure-D.