- (1.) Under consideration is a Company Petition No. 190 & 191/CAA/2017 filed under Section 230 to 232 of the Companies Act, 2013, M/s.SICAL Multimodal & Rail Transport Limited (hereinafter referred to as 'Demerged Company') and M/s.SICAL Bangalore Logistics Park Limited (hereinafter referred to as 'Resultant Company') seeks the sanction to the Scheme of Arrangement (in short, 'Scheme') by virtue of which the Bangalore ICD Undertaking of the Demerged Company would be demerged and transferred to Resultant Company as a going concern.
(2.) The Share Capital of the Companies as on 31st March, 2017 is as under:
(3.) At the outset, it is necessary to mention brief facts of the scheme which needs consideration. The Demerged Company is a Public Unlisted Company having its registered Office at South India House, No.73, Armenian Street, Chennai 600 001, within the jurisdiction of this NCLT Bench at Chennai and the Board of Directors vide its resolution dated 15 October 2016 and 2nd February 2017 approved the said scheme of arrangement. The Demerged Company is engaged in the business of operating container rail terminals/ICD container freight station.;