IN RE Vs. PINOKIO ENTERTAINMENT PRIVATE LIMITED

JUDGEMENT

(1.) This is a joint petition filed by way of a 1st Motion under Sections 230-232 of the Companies Act, 2013 (hereinafter referred to as 'the Act') by Pinokio Entertainment Private Limited (Applicant No. 1/ Transferor Company) , HSG Propmart Private Limited (Applicant No. 2/Transferee Company) , Baba Ventures Private Limited (Applicant No.3/ Demerged Company) and Appreciate Fincap Private Limited (Applicant No. 4/ Resulting Company) in connection with the Scheme of Arrangement (hereinafter referred to as 'the Scheme') for demerging the business of the Transferor Company with the Transferee Company.

(2.) As per averments, the registered offices of both the Applicant Companies are situated in the National Capital Territory of Delhi, falling within the jurisdiction of this Court.

(3.) The Applicant No. 1 / Transferor no. 1 Company was initially incorporated under the Act on 06th January, 2010 under the name and style of "Adhunik Barter Private Limited". Subsequently the name of the company was changed to its present name and style as "Pinokio Entertainment Private Limited" under certificate of incorporation dated 14th August, 2015. Its authorized share capital is Rs. 37Lakhs divided into equity shares of Rs. 10/- each. Its issued, subscribed and paid up capital is Rs. 36,10,000/-.