2015 (9) TMI 1588

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..... mited (the De-merged Company) under Sections 391 and 394 read with Sections 100 to 103 of the Companies Act, 1956 in a proposed Scheme of Arrangement in the nature of De-merger and Transfer of Processing and Windmills Divisions of Zenith Silk Milk Private Limited to Zenith Mil Private Limited and their respective shareholders and creditors and Restructure of Capital of both the companies. 2. In t .....

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..... that all the Secure Creditors and Unsecured Creditors of the Applicant De-merged Company have also given their approval to the Scheme in form of consent letters, which are placed on record as Annexure "E" and Annexure "F" respectively. In support of the above submission, the Certificate from the Chartered Accountant are collectively annexed as Annexure "G" confirming the status of the Equity Shar .....

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..... 5. Vide paragraph 13 of the affidavit in support of the Judges' Summons, it has been submitted by the Applicant Company that the proposed restructure of share capital of the De-merged Company envisages reduction of equity share capital. It was submitted that the reduction of the capital is essentially consequential in nature and is proposed as an integral part of the proposed Scheme of Arrangement .....

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