IN RE Vs. GAMMA GAANA LIMITED AND ORS

JUDGEMENT

(1.) This is an application jointly filed by the applicant companies herein, namely Gamma Gaana Limited (for brevity "Transferor Company/Applicant Company No. 1") and Times Internet Limited (for brevity "Transferee Company/Applicant Company No. 2") under Section 230 to 232 and other applicable provisions of the Companies Act, 2013 (for brevity 'The Act') read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (for brevity 'The Rules') in relation to the Scheme of Amalgamation (hereinafter referred to as the "SCHEME") proposed between the applicants. The aforesaid Scheme is annexed as Annexure "A-l" to the application. The applicants have preferred the instant joint application for the following purpose as is evident from the reliefs sought for in Paragraph 37 of the Application, namely:-

(2.) An Affidavit in support of the above joint application has been sworn in for Applicant Companies by Mr. Mahesh Chand Gupta, being the authorised signatory of the respective Companies. The affidavits have been placed on record along with the application. Counsel for the joint applicants took us through the averments made in the application as well as the typed set of documents annexed there with.

(3.) Learned Counsel for the applicants represents that the 'Scheme' does not contemplate any corporate debt restructuring exercise as contemplated under section 230(2) represented that a joint application as filed by the applicants are maintainable in view of Rule 3(2) of the 'Rules' and it is also represented that the registered office of all the applicant companies are situated within the territorial jurisdiction of this Tribunal and falling within the domain of Registrar of Companies, NCT, New Delhi.