IN RE Vs. BIOSTADT INDIA LIMITED

JUDGEMENT

(1.) The Counsel for the Applicant Company states that the proposed Scheme is Scheme of Arrangement between iostadt India Limited, the Demerged Company and Biostadt Agrosciences Private Limited, the Resulting Company and their respective shareholders for demerger of Domestic Crop Care Division of Biostadt India Limited into Biostadt Agrosciences Private Limited.

(2.) The Counsel for the Applicant Company further submits that the Applicant Company is presently engaged in manufacturing, trading and sale of high-quality agriculture products, which includes biological, hybrid seeds and aqua products.

(3.) The circumstances that have necessitated or justified the Scheme of Arrangement are inter alia summarised as under: