PRADEEP HOLDINGS PRIVATE LIMITED Vs. MAP AUTO LIMITED

JUDGEMENT

(1.) THIS is a first motion joint Application under Sections 391 to 394 of the Companies Act, 1956, (for short 'Act') in connection with the Scheme of Arrangement (for short 'Scheme') between M/s. Pradeep Holdings Private Limited and M/s. Randeep Investment Private Limited (hereinafter referred to as Transferor Companies) and M/s. MAP Auto Limited (hereinafter referred to as Transferee Company). A copy of the proposed Scheme is filed along with the application as Annexure-A.

(2.) THE registered offices of 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.