IN RE Vs. MANKIND PHARMA LIMITED

JUDGEMENT

(1.) This is a joint petition filed by way of a 1st Motion under Sections 230-232 of the Companies Act, 2013 (hereinafter referred to as 'the Act') by Mankind Pharma Limited (Applicant No. 1/ Demerged Company) and Mankind Biosys Private Limited (Applicant No.2/Resulting Company) in connection with the Scheme of Arrangement (hereinafter referred to as 'the Scheme') for demerging the business of the Demerged Company with the Resulting Company.

(2.) As per averments, the registered offices of both the Applicant Companies are situated in the National Capital Territory of Delhi, falling within the jurisdiction of this Court.

(3.) The Applicant No. 1 / Demerged Company was initially incorporated under the Act on 3rd July, 1991 under the name and style of "Mankind Pharma Private Limited". Subsequently the name of the company was changed to its present name and style as "Mankind Pharma Limited" and was incorporated under the Act on 13th April, 2006. Its authorized share capital is 41,00,00,000/-while its paid up capital is Rs. 40,05,88,440/- divided into shares of Rs.l/- each.