IN RE Vs. FUTURE RETAIL LIMITED

JUDGEMENT

(1.) The present Scheme is a Composite Scheme of Arrangement between Future Retail Limited ("First Demerged Company") and Blue rock eServices Private Limited ("Second Demerged Company") and Praxis Home Retail Limited ('Resulting Company') and their respective Shareholders under sections 230 to 232 and section 66 of the Companies Act, 2013. The Scheme inter-alia provides for the demerger of the Home Retail Business Undertaking of Future Retail Limited into Praxis Home Retail Limited.

(2.) The Composite Scheme of Arrangement involving the Applicant Company, the Second Demerged Company and the Resulting Company would have the following benefits:

(3.) The meeting of the Equity Shareholders of the Applicant Company he convened and held at Rangswar, Fourth Floor, Y.B. Chavan Centre, Gen. Jagannath Bhosale Marg, Mumbai-400 021 on Tuesday, the 26th day of September, 2017 at 10:00 a.m. for the purpose of considering and if thought fit, approving with or without modification(s) the proposed arrangement embodied in the Composite Scheme of Arrangement between Future Retail Limited and Blue rock eServices Private Limited and Praxis Home Retail Limited and their respective Shareholders.