Ratakonda Murali, Member - (1.) This Company Petition was filed jointly on behalf of the Petitioner Companies under Section 230 and 232 of the Companies Act, 2013, praying to order for sanctioning the Composite Scheme of Arrangement & Amalgamation of 1st Petitioner Company and 2nd Petitioner Company and 3 rd Petitioner Company and 4th Petitioner Company and shall be binding upon all the Shareholders and Creditors of the respective Petitioner Companies.
(2.) The averments made in the Company Petition are briefly described hereunder:-
(3.) The Petitioner Company seeks an order for sanctioning the Scheme of Arrangement of RIPPLE FRAGRANCES EXPORTS PRIVATE LIMITED (1st Petitioner Company) and RIPPLE FRAGRANCES PRIVATE LIMITED (2nd Petitioner Company) and N. RANGA RAO & SONS PRIVATE LIMITED (3rd Petitioner Company) and RANGSONS MARKETING SERVICES PRIVATE LIMITED (4th Petitioner Company) and shall be binding upon all the Shareholders and Creditors of the Petitioner Companies whereunder Ripple Fragrances Exports Private Limited is proposed to be merged into Ripple Fragrances Private Limited, the "Sales and Marketing Division" of Ripple Fragrances Private Limited (Merged Entity) is proposed to be Demerged into N.Ranga Rao & Sons Private Limited, further "Trading Division" of Rangsons Marketing Services Private Limited is proposed to be demerged into N. Ranga Rao & Sons Private Limited in terms of scheme shown as Annexure-A.;