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NATIONAL COMPANY LAW TRIBUNAL
Shri Prabhat Kumar, Justice V.G. Bisht (Retd.), JJ
BELVEDORE INTERNATIONAL LIMITED VS
| Table of Content |
|---|
| 1. composite scheme of arrangement approved. (Para 1 , 3) |
| 2. business operations and shareholder benefits discussed. (Para 4 , 5) |
| 3. financial details of applicant companies provided. (Para 6 , 7 , 8) |
| 4. consent from shareholders and dispensation of meetings. (Para 13 , 20) |
| 5. creditor consent and compliance with statutory requirements. (Para 26 , 27 , 28) |
| 6. share exchange ratio established. (Para 35) |
ORDER
1. The sanction of the Tribunal is sought under Sections 232 r/w Section 230 of the Companies Act, 2013 and other relevant provisions of the Companies Act, 2013 and the rules framed there under for the Composite Scheme of Arrangement of Belvedore International Limited (Transferor/Applicant Company No.1), Kanvas Concepts Private Limited, (Transferor/Applicant Company No.2), Kurlon Retail Limited (Transferor /Applicant Company No.3), Komfort Universe Products And Services Limited (Transferor /Applicant Company No.4), Starship Value Chain and Manufacturing Private Limited (Transferor/Applicant Company No.5), With Kurlon Enterprise Limited (Transferee/Amalgamating /Applicant Company No.6) With and into Sheela Foam Limited (Amalgamated/Applicant Company No.7).
2. The Board o
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