IN RE Vs. NAVYA BIOLOGICALS INDIA PRIVATE LIMITED

JUDGEMENT

(1.) Originally this Company Application has been filed before the Hon'ble High Court of Karnataka by the Applicant Company under Sec. 391 of the Companies Act, 1956, being numbered as CA 744/16. Subsequently as per notification No. GSR.111(E) : MANU /DCAF/0145/2016 dated 7th December 2016 issued by the Ministry of Corporate Affairs, New Delhi, the said case is transferred to this Tribunal and renumbered as T.P. No. 268/2017.

(2.) This Company Application is filed on behalf of the Applicant Company under Section 391 of the Companies Act, 1956, praying to order for dispensing of the meeting of the Equity Shareholders of the applicant/Transferor Company. Secured Creditors and Unsecured Creditors of the Applicant Company for approving the scheme of Amalgamation, where under the Applicant Company NAVYA BIOLOGICALS PRIVATE LIMITED (Transferor Company) is proposed to be merged with the SHILPA MEDICARE LIMITED(Transferee Company) and for purposes of considering the scheme of amalgamation etc.

(3.) The averments made in the Company Application are briefly described hereunder:-