IN RE Vs. IDEA CELLULAR LTD

JUDGEMENT

(1.) By way of this petition under Sections 230-232 of the Companies Act, 2013, the Petitioner Company is seeking sanction of a Composite Scheme of Amalgamation and Arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular Limited and their respective shareholders and creditors (Scheme) .

(2.) The circumstances and/ or reasons that justify and/or necessitate the Scheme and the benefits which are likely to result are, inter alia, as follows:

(3.) The Petitioner Company states that the Scheme has been drawn up in accordance with law, and any modification(s) shall be in accordance with applicable law. The capital structure of the Petitioner Company as on the Effective Date, shall meet the following requirements of the Scheme: