IN RE Vs. ORIND ESTATES PRIVATE LIMITED

JUDGEMENT

(1.) The Counsel for the Applicant Companies states that the present Scheme is a Scheme of Arrangement among Orind Estates Private Limited ('the Transferor Company 1 or 'the First Applicant Company') and ACG Ajas Components Private Limited ('the Transferor Company 2" or "the Second Applicant Company') and Adhikar Trading Private Limited ('the Transferor Company 3' or "the Third Applicant Company") and EH Advisors and Consultants Private Limited ("the Transferor Company 4" or "the Fourth Applicant Company') and ACG Associated Capsules Private Limited ("the Transferee Company' or 'the Fifth Applicant Company") . This Scheme of Arrangement proposes to merge the Transferor Companies with the Transferee Company without \\ inding up of the Transferor Companies pursuant to the relevant provisions of the Companies Act, 2013.

(2.) The Counsel for the Applicant Companies further submit that the Transferor Company 1 is primarily formed inter alia for the business of constructing, purchasing, developing or otherwise acquiring, foreclosing, purchasing on auction, hiring, leasing, selling or selling on hire purchase system buildings. houses, bungalows, factories, sheds, recreational clubs and facilities including golf course, sports and social clubs, trade premises, plant, machinery, public buildings, lands, farms or any other kinds of asset, estate or property, immovable rights or chose in action and the business as proprietors, developers, builders, managers, operators, hirers and dealers of land and immovable properties.

(3.) The Transferor Company 2 is primarily engaged inter alia in the business of manufacturing, fabricating, assembling, repairing, buying, selling, reselling, exchanging, altering, importing, exporting, hiring, letting on hire, or distributing or dealing in highly specialized precision components, spare parts, fittings, and accessories for pharmaceutical machinery and other kind of machinery as per drawings furnished to the company.