V. Nallasenapathy, Member - (1.) Heard learned counsel for parties, none appears before this Tribunal to oppose the Scheme and nor any party has controverted any averments made in the Company Scheme Petitions.
(2.) The sanction of this Tribunal is sought under Sections 391 to 394 of the Companies Act, 1956 and Sections 230 to 232 of the Companies Act, 2013 to a Scheme of Arrangement between Catwalk Worldwide Private Limited (Petitioner/Demerged Company) with Truworth Shoes Private Limited (Petitioner/Resulting Company).
(3.) The learned Advocate for the Petitioner Companies states that the Demerged Company is engaged in the business of manufacturing and retailing of ladies footwear along with certain non-core leasing business on certain properties owned by it; and the Resulting Company is incorporated to do business of manufacturing and retailing of ladies footwear.;