IN RE Vs. G G ORGANICS PRIVATE LIMITED

JUDGEMENT

(1.) Under Consideration are Two Company Petitions No.206 & 207/CAA/2017 filed under Section 230 of the Companies Act, 2013 r/w the Companies (Compromises, Arrangements and Amalgamations) Rules 2016. The instant Petition pertains to the proposed Scheme of Arrangement (Demerger) by virtue of which "Liquid Detergent Business Division" of M/s. G.G Organics Private Limited (hereinafter referred to as 'Demerged Company') will merge with M/s. G.G Organics Care Private Limited (hereinafter referred to as 'Resulting Company') as going concern.

(2.) The Details of Share Capital, Shareholders, Secured & Unsecured Creditors of the Companies are as under:

(3.) The Demerged Company is a Private Limited Company having its registered office at No. 122/6, Thuthipet Revenue Village, Villianure Commune, Pondicherry-605502. The Resulting Company is a Private Limited Company, having its registered office at No.2, Thirumurugan Street, Adhi Nagar, East Tambaram, Chennai - 600 059. The main object of the Petitioner Company as set out in its Memorandum of Association, is to carry on the business to manufactures, Exporters of leather tanning chemicals, liquid detergent and dealers in chemicals compounds in all forms, and chemical products of any nature and kind whatsoever etc. The object of the Resulting Company is to carry on the business as manufacture, produce, market, distribute, buy, sell, import, export, dealer, agent, wholesalers, consultants of all type of detergent in liquid, cake and powder etc. The Board of directors of petitioner company vide its resolution dated 1st Day of September, 2016 approved the said scheme of Arrangement (Demerger).