K. Anantha Padmanabha Swamy, Member - (1.) Under Consideration are two Company Petitions No. CP/174/CAA/2017 and CP/175/CAA/2017 filed under section 230 of the Companies Act, 2013 r/w the Companies (Compromises, Arrangements and Amalgamations) Rules 2016. The instant petition;: pertain to the proposed Scheme of Arrangement (Demerger) between M/s Rajali Packaging Private Limited (hereinafter referred as 'Demerged Company') and M/s. KUV Trading India Private Limited (hereinafter referred as 'Resulting Company') where the trading division of Rajali Packaging will be hived off and vested in M/s. KUV Trading India Private Limited
(2.) The Details of Share Capital, Shareholders, Secured &Unsecured Creditors of the Companies are as under:
(3.) The Demerged Company is a Private Limited Company having its registered office at 68, Periyanna Mudali Street, Chennai-600001. The Resulting Company is a Private Limited Company, having its registered office at 71, Thatha Muthiayappan Street, Chennai-600001. The main objects of the Petitioner company, set out in Clause - III (A) of its Memorandum of Association, is to manufacture, process, buy, sell, import, Export or otherwise, plastic packing, polythene packing gunny bags, containers, bottles, hollow wares, whether made of leather plastic, High Density Polytheline (H.D.P), Low Density Polytheline (L.D.P), polypropoline, plastic, Poly Vinayal Chloride (P.V.C) and other man made fibrous materials etc. The Resulting Company is carrying on the business of buying, selling, reselling, importing, exporting, transporting, storing, developing, promoting , marketing or supplying, trading, dealing, dealing in any manner whatsoever in all type of card board Plastic packing, containers, bottles and other related material on retail as well as on wholesale basis in India or elsewhere etc.;