IN RE Vs. KADRI MILLS (CBE) LIMITED

JUDGEMENT

(1.) Under Consideration are two Company Petition* Nos.198 & 199/CAA/2017 filed under Section 230(1) of the Companies Act, 2013 r/w the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The instant Petitions pertain to the proposed Scheme of Arrangement (Demerger) by virtue of which one unit of M/s. The Kadri/ Mills (CBE) Limited (hereinafter referred to as 'Demerged Company') will merge with M/s. Sri Kumaraguru Mill Limited (hereinafter referred to as 'Resulting Company') .

(2.) The Details of Share Capital, Shareholders, Secured &Unsecured Creditors of the Companies are as under:-

(3.) The Demerged Company is a Public Limited Company having its registered office at No. 1/79-80, Trichy Road, Ondipudur, Coimbatore -641 016. The Resulting Company is a Public Limited Company, having its registered office at No. 126, Arts College Road, Coimbatore - 641 018. Presently the Demerged Company is engaged in the business of cotton spinners and doubles & linen manufactures, flax, hemp, jute spinners, bleaches and dyers, makers of vitriol, bleaching, dyeing and other fibrous substances, etc. Also to work spinning and weaving mills, cotton mills, ginning factories and to erect, maintain work presses for pressing merchandise into bales, etc. And to deal with all materials and things necessary or useful for dyeing, printing and bleaching purposes and other fabrics, extraction of oil and things either in Coimbatore^ District or other parts of India. The object of the Resulting Company is to carry on the business of manufacturing and trading in all kinds of fibers, yarn, fabrics, textiles, made ups, garments and also as merchants, exporters, importers, agents, distributors, retailers and dealers in all kinds of metals, machinery, spare parts, maintain and operate public road transport services for both passengers and goods, set up power plants, generate and distribute power.