Ch. Mohd. Sharief Tariq, Member - (1.) Under consideration are two Company Petition Nos. CP/131&132/CAA/2017 filed under section 230 of the Companies Act, 2013 r/w. the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The purpose of the Company Petitions is to obtain sanction of the Scheme of Amalgamation (in short, 'Scheme') by virtue of which Trends in Vogue Private Limited (hereinafter referred to as 'Transferor Company') is proposed to be merged, amalgamated and vested with Cavin Kare Private Limited (hereinafter referred to as 'Transferee Company') as a going concern.
(2.) The details of Share Capitals, shareholders, Secured & Unsecured creditors of the Companies are as under:
(3.) The Transferor Company and the Transferee Company are Private Limited Companies and both are Group Companies. Transferor Company is engaged in the business of beauticians, manicurists and health care centres whereas the Transferee Company is engaged in the business of manufacturing and dealing cosmetics, perfumes, creams, shampoo and other beauty preparations. The Board of Directors of the petitioner companies vide its resolution dated 20.02.2017 approved the said scheme of Amalgamation.;