IN RE Vs. ASCENDAS (INDIA) PRIVATE LIMITED

JUDGEMENT

(1.) Under consideration are two Company Petition nos. CP/140&141/CAA/2017 filed by the above named transferor Companies under Section 230 of the Companies Act, 2013 r/w the Companies (Compromises, arrangements and Amalgamations) Rules 2016. The purpose of the petitions is to obtain the sanction to the Scheme of Amalgamation (hereinafter referred to as 'Scheme') by virtue of which Ascendas (India) Private Limited (hereinafter referred as 'Transferor Company') is proposed to be amalgamated, merged and vested with Ascendas Services (India) Private Limited (hereinafter referred as 'Transferee Company') and their respective shareholders as a going concern.

(2.) The details of Share Capitals, equity shareholders and secured & unsecured creditors of the Petitioner Companies are as under: Particulars Description of Shares Authorised Capital (Rs) Issued, S&P Capital (Rs) No. of Equity Shareholders No. of Secured Creditors No. of Unsecured Creditors Transferor Company ES Rs. 42,00,00,00 Rs. 30,45,00,010 2 Nil 2 RCPS Rs. 32,20,00,00 Transferee Company ES Rs. 2,00,00,000 Rs. 60,29,400 3 Nil 8 PS/FCNPS Rs. 6,00,00,000 Rs. 5,60,53,800 1

(3.) Both the companies are Private Limited Companies having their registered office at 1st floor, International Tech Park, Ascendas IT Park, Taramani Road, Chennai- 600113 and the Board of Directors of the Transferor Company and Transferee Company vide their resolutions dated 24th April 2017 respectively approved the said scheme of Amalgamation. The main objects of the petitioner companies are set out in clause III of its Memorandum of Associations which are annexed with the company petitions.