IN RE Vs. G S NUTRITION PVT LTD

JUDGEMENT

(1.) The present application is jointly filed by the applicant companies herein, namely G.S. Nutrition Private Limited ( for brevi ty "Transferor Company") and G.S. Pharmbutor Private Limited (for brevity "Transferee Company") as a first motion petition under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 in respect of proposed Company Scheme of Amalgamation between the applicants. Such Company Scheme has been annexed with present Company application seeking for following prayer;

(2.) The applicants submit that the Transferor Company is a wholly owned subsidiary of the Transferee Company, therefore upon the Scheme becoming effective the entire share capital of Transferor Company shall stand cancelled and no new shares to be issued by the Transferee Company.

(3.) Companies in the present petition have stated such that both companies are intending to merge with as per the scheme of company which swtaaJeen approved by its Board of Directors and llsuch Scheme is approved by this Court then its entire business and undertaking of the transferor company would stand transferred to and vested in and/ or deemed to be merged with in the transferee company as a going concern from an appointed date i.e. April Ist, 2017.