Harihar Prakash Chaturvedi, Member - (1.) The Present Company Petition was initially filed on 08.07.2016 by the petitioner applicant Companies under Section 391/394 of Companies Act, 1956 before the Hon'ble Allahabad High Court Bench at Lucknow seeking prayer for sanction of the Proposed Company Scheme of Arrangement between M/s. Kashi Nath Seth Sarraf Private Limited (the Transferor/Demerging Company) with M/s Kashinath Somnath Sarraf Private Limited (Transferee/Resulting Company) .
(2.) The Applicant Company in the Present Company Petition submits that the Proposed Company Scheme of Arrangement has earlier been approved by the Board of Directors and shareholders of respective Companies as per their meeting held on 01.03.2016.
(3.) As per the Proposed Company Scheme of Arrangement the Appointed Date of the scheme is 01.10.2015;