IN RE Vs. MEENA INTEGRATED TEXTILE INFRA LIMITED

JUDGEMENT

(1.) Under consideration is a Joint Company Petition No. CP/208/CAA/2017 filed under Section 230 of the Companies Act, 2013 r/w Companies (Compromises, Arrangements and Amalgamations) Rules 2016. The purpose of the Company Petition is to obtain sanction of the Scheme of Amalgamation (in short, 'Scheme') by virtue of which M/s.Meena Integrated Textile Infra Limited (hereinafter referred to as 'Transferor Company') are proposed to be merged, amalgamated and vested in M/s.ADD Industrial Park (Tamil Nadu) Limited (hereinafter referred to as 'Transferee Company') as a going concern.

(2.) Before proceeding with the matter, it is pertinent to mention herein that the Transferor Company and Transferee Company are within the jurisdiction of NCLT, Chennai. The Transferor Company and Transferee Company have filed this petition.

(3.) The details of Share Capital, shareholders, Secured and Unsecured creditors of the Companies are as under: