IN RE Vs. SHILPA MEDICARE LTD

JUDGEMENT

(1.) Originally this Company Application has been filed before the Hon'ble High Court of Karnataka by the Applicant Company under Secs. 391-394 of the Companies Act, 1956, being numbered as CA 743/16. Subsequently as per notification No. GSR 111(E), 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. 267/2017. This Company Application is filed on behalf of the Applicant Company, praying to order for convening of the meeting of the Equity Shareholders of the applicant/Transferee Company and dispensing the meetings of Secured & Unsecured Creditors of the Applicant Company for approving the scheme of Amalgamation, whereunder the Transferor Company NAVYA BIOLOGICALS PRIVATE LIMITED is proposed to be merged with the Applicant Company/Transferee Company SHILPA MEDICARE LIMITED for purposes of considering the scheme of amalgamation etc.

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

(3.) It is further averred in the Application that the applicant company was originally incorporated as a private company under the name and style of Shilpa Antibiotics Private Limited on 20th November, 1987. Subsequently it was converted into Public Limited Company w.e.f. 3rd November, 1993. Later the Applicant Company changed its name to Shilpa Medicare Limited and obtained Fresh Certificate of Incorporation bearing Co. No. 08/8739 from the Registrar of Companies, Karnataka on 13th December, 2002 CIN bearing No. L85110KA1987PLC008739.