- (1.) The Advocate for the Applicants states that the present Scheme is an Arrangement between Mister Homecare Services Private Limited ("the Demerged Company") and Sila Solutions Private Limited ("the Resulting Company") and their respective Shareholders. This Scheme of Arrangement provides for the transfer by the Demerged Company of its undertaking pertaining to providing maintenance and cleaning and home maintenance services primarily to residential and retail clients ("the Demerged Undertaking") (constituting a major part of the business of the Demerged Company) to the Resulting Company, and the consequent discharge of consideration by the Resulting Company to the Demerged Company, pursuant to the relevant provisions of the Act.
(2.) The Advocate for the Applicants further submits that the Demerged Company is engaged in the businesses of providing maintenance and cleaning and home maintenance services primarily to residential and retail clients which constitute a major part of the business of the Demerged Company. The Demerged Company also provides home style consulting and interior decor services, which constitute a minor part of the entire business of the Demerged Company.
(3.) The Advocate for the Applicants further submits that the Resulting Company is engaged in the business of providing building management solutions and facility management services to its corporate clients. The Resulting Company has substantial and in-depth experience in this sector and has also built a strong brand in this sector, especially, in the corporate sector.;