IN RE Vs. VYOME BIOSCIENCES PVT LTD

JUDGEMENT

(1.) Vyome Biosciences Private Limited (Demerged Company) and Vyome Therapeutics Limited (Resulting Company) have filed this joint application under section 230 to 232 of the Companies Act, 2013 seeking dispensation of meeting of Equity Shareholders in case of both the companies, meeting of preference shareholders and unsecured creditors in case of the Demerged Company for the purpose of considering and if thought fit, approving, with or without modification, a Scheme of Arrangement in the nature of Demerger of Research and Development Undertaking of Vyome Biosciences Private Limited (Demerged Company) into Vyome Therapeutics Limited (Resulting Company).

(2.) The applicant 1 (Demerged Company) is a private limited company. Paid up equity share capital of the applicant company is Rs. 33,44,710/-. The Board of Directors of the applicant company has approved the Scheme of Arrangement by passing Board Resolution in its Meeting held on 31.8.2017.

(3.) The applicant company 1 has stated that accounting treatment specified in the Scheme is in conformity with the accounting standards prescribed in the Companies Act, 2013 and a certificate dated 14.9.2017 issued by the Auditors of the company is filed as Annexure K.