PRESENT:

For the Applicant

:

For the Respondent

:

ORDER

The case is fixed for pronouncement of order. The order is

pronounced in the open court, vide separate sheet.

-SD-

-SD-

KAUSHALENDRA KUMAR SINGH

DR. MADAN B. GOSAVI

MEMBER (TECHNICAL)

MEMBER (JUDICIAL)

IN THE NATIONAL COMPANY LAW TRIBUNAL

AHMEDABAD

DIVISION BENCH

COURT - 1

ITEM No.110

C.P.(CAA)/40(AHM)2021 in C.A.(CAA)/29(AHM)2021

Proceedings under Section 230-232

IN THE MATTER OF:

Glorious Yarns Pvt Ltd

Harmony Prints Pvt Ltd

Shanu Tex & Developers Pvt Ltd

........Applicant

........Respondent

Order delivered on: 21/02/2023

Coram:

Dr. Madan B. Gosavi, Hon’ble Member(J)

Mr.Kaushalendra Kumar Singh, Hon’ble Member(T)

CP (CAA) 40 of 2021 in

CA (CAA) No. 29/NCLT/AHM/2021

2

NATIONAL COMPANY LAW TRIBUNAL

AHMEDABAD

DIVISION BENCH

COURT-1

CP (CAA) 40 of 2021 in

CA (CAA) 29/NCLT/AHM/2021

[Under Sections 232 read with Section 230 of the

Companies Act, 2013 and other applicable provisions of the

Companies Act, 2013 and Rules framed thereunder ]

Scheme of Amalgamation

of

M/s. Glorious Yarns Private Limited

(Transferor Company 1)

and

M/s. Harmony Prints Private Limited

(Transferor Company 2)

with

M/s. Shanu Tex and Developers Pvt Ltd

(Transferee Company)

and

Their respective Shareholders and Creditors

CP (CAA) 40 of 2021 in

CA (CAA) No. 29/NCLT/AHM/2021

3

In the matter of:

M/s. Glorious Yarns Private

Limited

(CIN: U17199GJ1997PTC033282)

A

Company

incorporated

under

the

provisions

of

Companies Act 1956 having its

registered office at Plot-65, 1st

Floor, Subhash Nagar Society

Ghod Dod Road, Nr. Ram

Chowk, Surat Gujarat- 395001

....Petitioner Company No. 1

(Transferor Company)

M/s. Harmony Prints Private

Limited

(CIN: U17119GJ2002PTC041374)

A

Company

incorporated

under

the

provisions

of

Companies Act 1956 having its

registered office at Plot-65, 1st

Floor, Subhash Nagar Society

Ghod Dod Road, Nr. Ram

Chowk, Surat Gujarat- 395001

…..Petitioner Company No. 2

(Transferor Company)

M/s.

Shanu

Tex

and

Developers Pvt Ltd

(CIN: U17119GJ1999PTC036490)

a Company incorporated under

the provisions of Companies

…..Petitioner Company No. 3

(Transferee Company)

CP (CAA) 40 of 2021 in

CA (CAA) No. 29/NCLT/AHM/2021

4

Act 1956 having its registered

office at Plot-65, 1st Floor,

Subhash Nagar Society Ghod

Dod Road, Nr. Ram Chawk,

Surat Gujarat- 395001.

Order Pronounced on : 21.02.2023.

Coram: Dr. Madan Bhalchandra Gosavi – Member (Judicial)

Kaushalendra Kumar Singh – Member (Technical)

Appearance:

Mr. Kunjal Dalal, PCS for the Petitioner Companies.

ORDER

1.

This present joint petition has been filed by the Petitioner

Companies under Sections 230-232 of the Companies Act, 2013

read

with

Companies

(Compromise,

Arrangement

and

Amalgamations) Rules, 2016 seeking approval of the Scheme of

amalgamation between M/s. Glorious Yarns Private Limited

(Transferor Company No. 1), M/s. Harmony Prints Private Limited

(Transferor Company No. 2) with M/s. Shanu Tex And Developers

Private Limited (Transferee Company) [hereinafter referred to as the

“Petitioner Companies”] with effect from 18^th January, 2021, being

the Appointed Date as mentioned in the Scheme.

CP (CAA) 40 of 2021 in

CA (CAA) No. 29/NCLT/AHM/2021

5

2.

An Affidavit in support of the above joint petition has been

sworn by Mr. Ashok Kumar Kejriwal on behalf of the Petitioner

Companies who is the authorized representative of the Petitioner

Companies, and the same is annexed with the application. The

above-named authorized representative for the Petitioner Companies

has been authorized vide separate Board Resolutions dated

18.01.2021 of the respective Petitioner Companies.

3.

The Petitioner Companies