ARUN EXCELLO ENTERPRISES PRIVATE LIMITED; ARUN EXCELLO INFRA PROJECTS PRIVATE LIMITED; ARUN EXCELLO PROJECTS PRIVATE LIMITED; ARUN EXCELLO CITY DEVELOPERS PRIVATE LIMITED; ARUN EXCELLO HOMES PRIVATE LIMITED; YRSK PROPERTY CONSULTANCY PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) These Company Petitions are preferred under Sections 391 to 394 of the Companies Act, 1956 for sanctioning the scheme of amalgamation and arrangement (demerger) with effect from 01.04.2015 for amalgamation and with effect from 01.04.2016 for arrangement (demerger). The Scheme of amalgamation and arrangement (in short the Scheme) is appended as Annexure 4 to these petitions.

(2.) The petitioner in C.P.No.201 of 2016 is the 1st transferor company; the petitioner in C.P.No.202 of 2016 is the 2nd transferor company; the petitioner in C.P.No.203 of 2016 is the 3rd transferor company; the petitioner in C.P.No.204 of 2016 is the 4th transferor company; the petitioner in C.P.No.205 of 2016 is the transferee/demerged company and the petitioner in C.P.No.206 of 2016 is the resulting company.

(3.) A perusal of the records show that the petitioners have complied with the prescribed procedure. As certified by the Chartered Accountant (CA), following are the details of the secured and unsecured creditors of the petitioner companies. The said certificates of the CA are appended to the respective petitions as Annexure No.6. <FRM>JUDGEMENT_300_LAWS(MAD)7_2016.html</FRM>