IN RE Vs. SETCO CHEMICALS (INDIA) PRIVATE LIMITED

JUDGEMENT

(1.) Heard learned counsel for parties. The sanction of this Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013, to a Scheme of Arrangement and Reconstruction between Setco Chemicals (India) Private Limited ("Transferor Company") and CYMK Inks and Coatings Private Limited ("Transferee Company") and their respective members and creditors ("Scheme of Arrangement and Reconstruction" / "Scheme")

(2.) The Petitioner Companies have approved the said Scheme of Arrangement and Reconstruction by passing the Board Resolutions which are annexed to the Company Scheme Petition.

(3.) The Learned Advocate appearing for the Petitioners states that the Petitions have been filed in consonance with the order passed in their Company Scheme Application No. 648of 2017 of the National Company Law Tribunal.