B.S.V. Prakash Kumar, Member - (1.) The Counsel for the Applicants states that the present Scheme is an amalgamation between Sanghavi Foods Private Limited ('SFPL' or 'Amalgamating Company V) and Sanskar Recipes Private Limited ('SRPL' or "Amalgamating Company T) and Nilons Enterprises Private Limited ('NEPL' or 'Amalgamated Company') and their respective Shareholders ("Scheme').
(2.) The Amalgamating Company 1, Amalgamating Company 2 and Amalgamated Companies are part of the same Group. The management of the Group is contemplating to undertake amalgamation of Sanghavi Foods Private Limited ('SFPL' or "Amalgamating Company V) and Sanskar Recipes Private Limited ('SRPL' or 'Amalgamating Company 2') into Nilons Enterprises Private Limited ('NEPL' or 'Amalgamated Company') with a view to streamline the corporate structure and achieve benefits of synergy in operations. The amalgamation will facilitate consolidation of all the undertakings in order to enable effective management and unified control of operations. Further, the amalgamation would create economies in administrative and managerial costs by consolidating operations and would substantially reduce duplication of administrative responsibilities and multiplicity of records and legal and regulatory compliances. The Scheme would be in the best interest of the shareholders, the creditors, the employees and all other stakeholders of the Amalgamating Company 1, Amalgamating Company 2 and Amalgamated Company.
(3.) That the meeting of the equity shareholders of the First Applicant Company be convened and held at S. No. 131/1A/5, Sunderban Complex 1st & 2nd Floor, Next to Ganesh Dutta Temple, Near Balewadi Phata, Pune, Maharashtra 411045 on December 22, 2017 at 02.00 p.m. for the purpose of considering and, if thought fit, approving with or without modification(s) the proposed merger embodied in the Scheme of Amalgamation between Sanghavi Foods Private Limited and Sanskar Recipes Private Limited and Nilons Enterprises Private Limited and their respective Shareholders.;