IN RE Vs. TALWALKARS BETTER VALUE FITNESS LIMITED

JUDGEMENT

(1.) Heard the learned counsel for the Petitioner Companies. None appears before the Court to oppose the Scheme or to contravene averments made in the Petition.

(2.) The sanction of the Tribunal is sought under section 230 to 232, of the Companies Act, 2013, to the Scheme of Arrangement between Talwalkars Better Value Fitness Limited ("The Demerged Company") and Talwalkars Lifestyles Limited ("The Resulting Company") and their respective Shareholders .

(3.) The Demerged Company is engaged in the business of owning, managing and franchising gymnasia, fitness centers and health clubs. The First Petitioner Company also renders different types of healthcare and beauty services including diet, nutrition-based, weight-loss programs like Reduce, Nuform, yoga, physiotherapy. Zumba, Zorba, and other allied lifestyle and wellness activities etc. The Resulting is engaged in the business of owning, managing and franchising gymnasia, fitness centers and health clubs.