IN RE Vs. SPI CINEMAS PRIVATE LIMITED

JUDGEMENT

(1.) The Company Application bearing CA(CAA) No. 25/230/HDB/2017 (referred to as Company application hereinafter) is filed by M/s. SPI Cinemas Private Limited, under Sections 230 and other applicable provisions of the Companies Act, 2013 by seeking the following reliefs:

(2.) Brief contentions as raised in the Company application is as under:

(3.) It is stated that as part of internal reorganization and restructuring of the share capital structure of the Applicant Company and with a view to return funds which are in excess of wants of the Company, the Scheme of Arrangement will benefit the Applicant Company and their shareholders. The rationale and reasons for the proposed Scheme of Arrangement, inter alia, are summarized below:-