- (1.) This is a Joint Application filed by the applicant companies namely Manipal Education and Medical Group India Private Limited Limited (Applicant Company No. 1/Transferor Company) and Manipal Integrated Services Private Limited (Applicant Company No. 2/Transferee Company) under Section 230 to 232 of Companies Act, 2013 read with Rule 3 Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, praying to order to direct that the meeting of Equity Shareholders, Preference Shareholders and Secured Creditors of the Applicant Company No. 1 & 2, direct that the meeting of Unsecured Creditors of Applicant Company No. 2 be held and dispense with convening of meeting of Unsecured Creditors of Applicant Company No. 1 for considering the scheme of Arrangement, where under the demerger of identified business of Manipal Education and Medical Group India Private Limited (Transferor Company) to Manipal Integrated Services Private Limited (Transferee Company). The Scheme of Arrangement shown as Annexure-F.
(2.) The averments made in the Joint Company Application are briefly described hereunder:- The Applicants seeks an order to direct that the meeting of Equity Shareholders, Preference Shareholders and Secured Creditors of the Applicant Companies No. 1 & 2, direct that the meeting of Unsecured Creditors of Applicant Company No. 2 be held and dispense with convening of meeting of Unsecured Creditors of Applicant Company No. 1 for considering the scheme of Arrangement, where under the demerger of identified business of Manipal Education and Medical Group India Private Limited (Transferor Company) to Manipal Integrated Services Private Limited (Transferee Company) in terms of Scheme of Arrangement shown as Annexure-F.
(3.) Joint Application was filed on behalf of the applicant companies that the Applicant Company No. 1/Transferor Company was incorporated on 12th June, 2000 under the name and style of Manipal Education and Medical Group India Private Limited. The Registered office of the Transferor Company is situated at #24/1, 15,th Floor, JW Marriott, Vital Mallya Road, Ashok Nagar, Bengaluru-560001.;