- (1.) The Counsel for the Applicant Company states that the proposed Scheme is Scheme of Arrangement between iostadt India Limited, the Demerged Company and Biostadt Agrosciences Private Limited, the Resulting Company and their respective shareholders for demerger of Domestic Crop Care Division of Biostadt India Limited into Biostadt Agrosciences Private Limited.
(2.) The Counsel for the Applicant Company further submits that the Applicant Company is presently engaged in manufacturing, trading and sale of high-quality agriculture products, which includes biological, hybrid seeds and aqua products.
(3.) The circumstances that have necessitated or justified the Scheme of Arrangement are inter alia summarised as under: a) To enable better and more efficient management, control and running of the Domestic Crop Care Division ("Demerged undertaking") : b) To achieve operational efficiency and economies of scale: c) To enable a dedicated management focus and to accelerate growth of the business unlocking significant value for the shareholders and investors of both the Companies; d) To enable the Demerged Company to concentrate on its business of operating the Remaining Business; and e) To enable the Resulting Company to concentrate on the business of operating the Demerged Undertaking.;