LAWS(NCLT)-2017-11-848

IN RE Vs. QUESS CORP LIMITED

Decided On November 30, 2017
IN RE Appellant
V/S
Quess Corp Limited Respondents

JUDGEMENT

(1.) This Company Petition was filed jointly on behalf of the Petitioner Companies under Section 230 and 232 of the Companies Act, 2013, praying to order for sanctioning the Scheme of Arrangement between 1st Petitioner/Transferor Company and the 2n Petitioner/Transferee Company and shall be binding upon all the Shareholders and Creditors of the respective Petitioner Companies.

(2.) The avernjents made in the Company Petition are briefly described hereunden-

(3.) The Petitioner Companies seek an order for sanctioning the Scheme of Arrangement of QUESS CORP LIMITED (1st Petitioner/Transferee Company) and MANIPAL INTEGRATED SERVICES PRIVATE LIMITED (2nd Petitioner/Transferor Company) whereunder "Identified Business (comprising (i) Facility Management Business & (ii) Catering Business") of Manipal Integrated Services Private Limited (2nd Petitioner/Transferor Company) is proposed to be demerged into Quess Corp Limited (1st Petitioner/Transferee Company) and shall be binding upon all the Shareholders and Creditors of the Petitioner Companies. The Scheme of Arrangement is shown as Annexure A.