IN RE Vs. REENA FASHION PVT LTD

JUDGEMENT

(1.) Heard learned PCS, Mr. Swaminathan, for the applicant company.

(2.) By this application under Sections 230-232 of the Companies Act, 2013, the applicant company is seeking dispensation of meetings of equity shareholders and creditors of the applicant company in respect of a Scheme of Arrangement between Savitri Textiles (India) Private Limited (Demerged Company) and Reena Fashion Private Limited (Resultant Company) and their respective shareholders ("Scheme" for short).

(3.) The Applicant is a private limited company. Issued, subscribed and paid up equity share capital of the applicant company, as on 31.3.2017, is Rs. 1,00,000/- divided into 10,000 equity shares of Rs. 10/- each.