EVEREST INSTRUMENTS PVT.LTD Vs. STATE

JUDGEMENT

(1.) The petitioner­Companies have presented a Scheme of Arrangement in the nature of amalgamation between Lila Electronics Private Limited with Everest Instruments Private Limited and their respective shareholders and creditors under Sections­391 and 394 of the Companies Act, 1956, and seek the sanction thereof by way of the present petitions.

(2.) The petitioner of Company Petition No.403 of 2015 i.e. Everest Instruments Private Limited, is the Transferee Company, whereas the petitioner of Company Petition No.404 of 2015, i.e. Lila Electronics Private Limited, is the Transferor Company. Lila Electronics Private Limited shall hereinafter be referred to as the Transferor Company and Everest Instruments Private Limited shall hereinafter be referred to as the Transferee Company.

(3.) Since the two petitions are in relation to a common Scheme, they were heard together and are being decided by a common judgment.