Bikki Raveendra Babu, Member - (1.) The Petitioner Companies have filed these Petitions under Sections 230 to 232 of the Companies Act, 2013 seeking sanction of a Scheme of Arrangement in the nature of Amalgamation of Magic Engineers Private Limited with Icenet Private Limited and their respective shareholders and creditors ("Scheme for short").
(2.) The Petitioner of C.P. (CAA 9/NCLT/AHM/2017) i.e. Icenet Private Limited is the Transferee Company whereas the Petitioner of C.P.(CAA 10/NCLT/AHM/2017) i.e. Magic Engineers Private Limited is the Transferor Company. Icenet Private Limited shall hereinafter be referred to as the Transferee Company and Magic Engineers Private Limited shall hereinafter be referred to as the Transferor Company.
(3.) The respective petitions by the Petitioner Companies set out the details about their share capital, the objects with which the companies came to be incorporated and other relevant facts. Since the two petitions are in relation to the common Scheme, they were heard together and are disposed of by this common order.;