IN RE Vs. SYBLY INDUSTRIES LIMITED

JUDGEMENT

(1.) The Petitioner Companies filed the Present Company Petition under Section 230/232 of Companies Act, 2013 praying for sanction of the Proposed Company Scheme of Amalgamation /Arrangement between Vortex Fabrics Private Limited and Dux Textiles Private Limited (hereinafter referred to as Transferor Company with Sybly Industries Limited (Demerged/ Transferee Company) and Space Incubatrics Technologies Limited (Resulting Company).

(2.) It is submitted that the Proposed Company Scheme of Amalgamation has earlier been approved by the Respective Board of Directors of the Petitioner Companies No. 1,3 and 4 in its meetings held on 20th June, 2016 and meetings of the Petitioner Company no. 22 held on 4th July ,2016.

(3.) The Appointed Date as has been decided in respect of the Proposed Company Scheme of Amalgamation is 1st April, 2016.