VALUE FIRST DIGITAL MEDIA PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) THIS petition has been filed under Sections 391 to 394 of the Companies Act, 1956 (,,Act) by the Petitioner seeking sanction of the Scheme of Arrangement (,,Scheme) between Value First Digital Media Private Limited (hereinafter referred to as ,,Petitioner Transferee company) and Gingersoft Media Private Limited (hereinafter referred to as ,,Demerged company) and their respective shareholders and creditors.

(2.) THE registered office of the Petitioner-Transferee company is situated at New Delhi, within the jurisdiction of this Court. The registered office of the demerged company is situated at Hyderabad, outside the jurisdiction of this court.

(3.) THE Copies of the Memorandum and Articles of Association as well as the latest audited annual accounts of the Petitioner-Transferee company have also been placed on record.