IN RE Vs. SAPPHIRE FOODS INDIA PRIVATE LIMITED

JUDGEMENT

(1.) Heard learned Counsel for the parties. No objector has come before the court to oppose the Scheme and nor any party has controverted any averments made in the Petitions for Scheme of Arrangement between Sapphire Foods India Private Limited, the Transferee and Resulting Company and Sapphire Hospitality and Recreation Private Limited, the Transferor 1 Company and Hansazone Private Limited, the Transferor 2 Company and Pizzeria Fast Foods Restaurants (Madras) Private Limited, the Transferor 3 Company and KFCH Restaurants Private Limited, the Demerged Company and their respective Shareholders.

(2.) The sanction of the Tribunal is sought under Sections 230 to 232 read with Rule 15(1) of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and other applicable provisions of Companies Act, 2013 to a Scheme of Arrangement between Sapphire Foods India Private Limited, the Transferee and Resulting Company with Sapphire Hospitality And Recreation Private Limited, the Transferor 1 Company and Hansazone Private Limited, the Transferor 2 Company and Pizzeria Fast Foods Restaurants (Madras) Private Limited, the Transferor 3 Company and KFCH Restaurants Private Limited, the Demerged Company and their respective Shareholders.

(3.) The Petitioner Companies have approved the said Scheme of Arrangement by passing the Board Resolution in Board Meeting which is annexed to the respective Company Scheme Petitions.