IN RE Vs. AIR TRAX POLYMERS 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 Air Trax Polymers Private Limited (Applicant No. 1/ Transferor Company) and Capstone Polyweave Private Limited (Applicant No.2/Transferee 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 Company / Transferor Company was incorporated under the Act on 5th May, 1997 having CIN U 19201 DL1997 PTC 087073. Its authorized share capital is 2,00,00,000/-while its paid up capital is Rs. 1,90,86,780/- divided into 19,08678 equity shares of Rs.10/- each.