IN RE Vs. ABHIMAN INTERNATIONAL PVT LTD

JUDGEMENT

(1.) This Application is filed on behalf of the Applicant Company under Section 230 to 232 of Companies Act, 2013 read with Rule 3 Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, praying to dispense with convening of meeting of Equity Shareholders, Secured Creditors and Unsecured Creditors of the Applicant Company for considering the scheme of Arrangement, where under Kormangala Project (Demerged Undertaking No.2) of Stumpp Schuele & Somappa Private Limited (Demerged Company) is proposed to be demerged and vested with Machani Ramesh Metamorphosis Private Limited (Applicant Company/Transferee Company No.2) and Basavangudi Project (Demerged Undertaking No.l) of Stumpp Schuele & Somappa Private Limited (Demerged Company) is proposed to be demerged and vested with Machani Ramesh Heritage Private Limited (Applicant Company/Transferee Company No.1) . The Scheme of Arrangement is shown,as Annexure-E.

(2.) The averments made in the Company Application are briefly described hereunder:-

(3.) The Applicant seeks an order to dispense with convening of meeting of Equity Shareholders, Secured Creditors and Unsecured Creditors of the Applicant Company for considering the scheme of Arrangement where under the where under Kormangala Project (Demerged Undertaking No.2) of Stumpp Schuele & Somappa Private Limited (Demerged Company) is proposed to be demerged and vested with Machani Ramesh Metamorphosis Private Limited (Applicant Company/Transferee Company No.2) in terms of Scheme of Amalgamation shown as Annexure-E.