IN RE Vs. NAVAKETAN VYAPAR LIMITED AND ORS

JUDGEMENT

(1.) This application has been moved jointly by Navaketan Vyapar Private Ltd. and Satyashanti Commercial Pvt. Ltd. under section 230 read with section 232(3) of the Companies Act, 2013 for sanctioning the scheme of arrangement.

(2.) The object of this petition is to obtain sanction of this Tribunal to a Scheme of Arrangement of M/s. Navaketan Vyapar Private Limited (hereinafter referred to as Demerged Company) with M/s. Satyashanti Commercial Private Limited (hereinafter referred to as the 'Resultant Company') whereby and whereunder the transferred assets of the Demerged Company as a going concern together with liabilities relating thereto has been proposed to be transferred to and be vested in the Resulting Company on the terms and conditions and in the manner fully stated therein. A copy of the Scheme of Arrangement has been annexed and marked with letter "A" to the Petition.

(3.) The authorized share capital of Navaketan Vyapar Private Limited, is Rs.1,80,00,000/- divided into 18,00,000 equity shares of Rs.107/-- each and the issued, subscribed and paid up share capital is Rs.1,78,56,000/- divided into 17,85,600 equity shares of Rs.107- each all fully paid up and having its registered office at 'Shree Balajee Sadan', 14, S.P. Mukherjee Road, Kolkata- 700 025, West Bengal.