SCHEME OF ARRANGEMENT Vs. MODI REVLON PVT. LTD

JUDGEMENT

(1.) THIS first motion joint Application has been filed under Sections 391to 394 of the Companies Act, 1956 (for short 'Act') in respect of a Scheme of Amalgamation (for short 'Scheme') of KAMAKHYA COSMETICS AND PHARMACEUTICALS P. LTD. (hereinafter referred to as 'Transferor Company') with MODI REVLON P. LTD. (hereinafter referred to as 'Transferee Company'). A copy of the proposed Scheme is filed along with the present application.

(2.) THE registered offices of both the Transferor and Transferee Companies are situated within the National Capital Territory of Delhi and are within the jurisdiction of this Court.

(3.) LEARNED counsel for the Applicant Companies submits that no proceeding under Sections 235 to 251 of the Act is pending against any of the Applicant Companies as on the date of the present Application.