JUDGMENT :

Abhilasha Kumari, J.

These petitions are filed by two petitioner-companies for sanction of a scheme of arrangement, namely, Elitecore Technologies P. Ltd. the transferor company/demerged company and Cyberoam Technologies P. Ltd. the transferee company/resulting company under sections 391 to 394 of the Companies Act, 1956.

2. It has been submitted that the transferor company/demerged company was originally incorporated under the Companies Act, 1956, on December 17, 1999. On August 3, 2001, the company was converted into a public limited company and thereafter again converted into a private limited company on August 17, 2010, whereby the company was issued a fresh certificate of incorporation. As for the transferee company/resulting company, it was incorporated on March 2, 2006, under the name Cyberoam Technologies P. Ltd. Thereafter, the name was changed to Fast Track Technologies P. Ltd., with effect from October 4, 2007. The name of the transferee company/resultant company was again changed to Cyberoam Technologies P. Ltd., in June 20, 2011 and a fresh certificate of incorporation was issued thereafter. The transferee company/resultant company, namely, Cyberoam Technologie