Harihar Prakash Chaturvedi, Member - (1.) The present petition is filed by the Petitioner Companies before this tribunal under Section 232 of Companies Act, 2013 read with National Company Law Tribunal Rules, 2016 along with The Companies (Compromises, Arrangement and Amalgamations) Rules, 2016. It is prayed for sanction of the proposed scheme of arrangement for the transfer and vesting of the Demerged Undertaking of the Petitioner company No. 1/Transferor Company (Jubilant Capital Private Limited) to and in the Petitioner Company No. 2/Transferee Company (JCPL Life Science Ventures and Holdings Private Limited).
(2.) It is stated that 'JUBILANT CAPITAL PRIVATE LIMITED" (Transferor Company) was originally incorporated on 04.01.1990. The main objects of the company are set out in its object clause of the Memorandum of Association enclosed as Annexure No. 2 with the Company Petition No. 5/ALD/2017 [hereinafter referred to as - 'Company Application/(CP)"]. The JCPL LIFE SCIENCE VENTURES AND HOLDINGS PRIVATE LIMITED (Transferee Company) was originally incorporated on 21.11.2016. The main objects of the company are set out in its object clause of its Memorandum of Association enclosed as Annexure No. 6 with the previous Company Application/(CP).
(3.) It is further submitted that the Scheme of Arrangement has already been approved by the Board of Directors of both Transferor and Transferee Companies.;