- (1.) This Company Petition was filed on behalf of the Petitioner Company under Section 230 and 232 of the Companies Act, 2013, praying to order for sanctioning the Scheme of Arrangement between 1st Petitioner/Transferor Company and the 2n Petitioner/Transferee 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 MANIPAL EDUCATION & MEDICAL GROUP INDIA PRIVATE LIMITED (Petitioner/Transferor Company) and MANIPAL INTEGRATED SERVICES PRIVATE LIMITED (Petitioner/Transferee Company) whereunder "Identified Business" (whole of Undertaking of the Property Management Business) of Manipal Education & Medical Group India Private Limited (1st Petitioner/Transferor Company) is proposed to be demerged into Manipal Integrated Services Private Limited (2nd Petitioner/Transferee Company) and shall be binding upon all the Shareholders and Creditors of the Petitioner Companies. The Scheme of Arrangement is shown as Annexure A.;