IN RE Vs. WIKI KIDS LIMITED AND ORS

JUDGEMENT

(1.) The instant Company Petition has been filed by the Transferor/Transferee Companies under Section 230 to 232 of the Companies Act, 2013, before the Hon'ble High Court of Judicature at Hyderabad for the State of Telangana and the State of Andhra Pradesh. The object of the Petition is to obtain sanction of the Scheme of Amalgamation between Wiki Kids Limited (Transferor Company) and Avantel Limited (Transferee Company) and their respective Shareholders, employees and Creditors with effect from the appointed date 01.04.2016.

(2.) A Gazette Notification GSR 1134(E) dated 14th December, 2016 issued by the Ministry of Corporate Affairs with effective date of 15th December, 2016, and in terms of Rule 15 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 & Rule 23A of NCLT Rules R/w Rule of Companies (Transfer of Pending Proceedings) Rules, 2016, jurisdiction is conferred on this Tribunal in respect of subject cases and thus pending cases also transferred from the Hon'ble High Court to the NCLLT. Accordingly, the Hon'ble High Court transferred this case to this Bench. On transfer, case is listed before this Bench on 17/02/2017, 16.03.2017, 21.03.2017, 05.06.2017

(3.) Brief facts are as follows: