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NATIONAL COMPANY LAW TRIBUNAL
Shri Rammurti Kushawaha, Member (Judicial), Shri Yogendra Kumar Singh, Member (Technical)
JALLAN GOLAGHAT TEA CO PVT LTD VS
| Table of Content |
|---|
| 1. the petition seeks sanction for a demerger between two companies. (Para 1 , 2) |
| 2. details on the distinct business segments of the demerged company. (Para 3 , 4) |
| 3. tribunal's consideration of fairness and beneficial potential of the scheme. (Para 21) |
| 4. final order for the sanction of the scheme. (Para 25) |
ORDER
Order pronounced in open court vide separate sheets.
JUDGEMENT
1. The instant Petition has been filed under Section 2 30 of the Companies Act, 2013 (“Act”) for sanction of scheme of arrangement (“Scheme”) between the Petitioner No. 1 (“Demerged Company”) and Petitioner No. 2 (“Resulting Company”) and their respective shareholders and creditors, whereby SONAGURI TEA FACTORY (“Demerged Undertaking”), a unit/ factory of the Demerged Company carrying on the business of manufacturing/ processing of tea leaves procured from small tea leaf growers, is demerged from the Demerged Company and vesting the same into the Resulting Company, so as to make the Scheme binding amongst the Petitioner Companies and their respective shareholders and creditors with effect from the Appointed Date, i.e. 01.04.2024 (First April Two Thousand Twenty Four); and in the manner and on the t
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