IN RE Vs. LYKA LABS LTD

JUDGEMENT

(1.) Heard learned Advocate Ms. Dharmishta Raval for Raval & Raval Advocates.

(2.) Lyka Labs Limited (Applicant Transferee Company) has filed this application seeking dispensation of filing a petition and dispensation of meetings of Equity and Preference Share Holders as well as Secured and Unsecured Creditors and, in the alternative, seeking a direction for conducting meetings of equity shareholders, Preference Share Holders, Secured Creditors and Unsecured Creditors in respect of a Scheme of Amalgamation between Lyka Health Care Limited ( The Transferor Company) and Lyka Labs Limited (The Applicant Transferee Company) , and their respective shareholders and creditors with effect from the Appointed Date on the agreed terms and conditions as set out in the scheme annexed at Annexure-F in accordance with Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions of the Act.

(3.) The Board of Directors of Applicant Transferee Company in the meeting held on 29th May 2017, passed a resolution approving the proposed Scheme placed before the Board by the Company Secretary.