SANGAM BOOKS (INDIA) PRIVATE LIMITED Vs. AGRICULTURAL DEVELOPMENT COMMERCIAL CREDIT & INDUSTRIAL INVESTMENT COMPANY PRIVATE LTD

JUDGEMENT

(1.) The present Company Petition bearing CP (CAA) No. 61/230/HDB/2017 is filed by Sangam Books (India) Private Limited (herein after referred to as Transferor/Petitioner Company) under Section 230 and 232 of the Companies Act, 2013, by inter-alia, seeking directions to sanction the Scheme of Arrangement with the Agricultural Development Commercial Credit and Industrial Investment Company Private Limited (Transferee Company) as proved by Board of Directors of Sangam (Books) Private Limited held on 29th September, 2016 etc.

(2.) Heard Shri L.V.V. Iyer, Learned Counsel along with Shri Vivek Ganesh, Learned Counsel for the Transferor/Petitioner Company and Shri J. Srinadh Reddy, Learned Counsel for the Official Liquidator.

(3.) Brief facts, of the case, which are relevant to the issue in question, as stated in the Company Petition are submitted as under:-