Industry-wise breakup of the schemes filed is as follows:
|Industry||No. of Deals|
|August 2016||July 2016|
|Jewellery & Diamonds||–||4|
This month 21 (Twenty-one) Schemes were filed, involving 63 (Sixty three) Companies, of which 17 (Seventeen) were Scheme of Amalgamation, 3 (Three) were Scheme of Demerger and 1(One) was Composite Scheme of Arrangement.
Other facts are:-
- 3 (Three) Companies were Listed Company.
- 10 (Ten) Company have paid-up Capital of more than Rs. 10 Crores.
- 4(Four) Schemes were Merger between Holding Company and Subsidiary Company.
- In 3 (Three) Schemes, the Transferor Company has carried forward losses and the Transferee Company is profit making.
DETAILS OF SCHEME
SCHEME OF DEMERGER:
RELIANCE CAPITAL LIMITED AND RELIANCE COMMERCIAL FINANCE LIMITED.
Reliance Communication Limited, the Transferee Company has not filed application with the High Court based on the Judgment in case of Mahaamba Investments Limited and IDI Limited (2001) 105 Company Cases page 16 to 18, that if there is no effect on the rights of the members or creditors of the Transferee Company as between themselves or does not involve reorganisation of the share capital of the Transferee Company, no application/petition by the Transferee Company is necessary.
OMKAR SPECIALITY CHEMICALS LIMITED AND LASA LABORATORY PRIVATE LIMITED AND URDHWA CHEMICALS COMPANY PRIVATE LIMITED AND RISHICHEM RESEARCH LIMITED AND DESH CHEMICALS PRIVATE LIMITED AND LASA SUPERGENERICS LIMITED
This is a case of conglomerate integration as all the companies are engaged in different but related line of business. Lasa Laboratory Private Limited is in business of manufacturing, producing, processing, preparing, treating chemicals,pharmaceuticals, drugs.Urdhwa Chemical Company Private Limited is in business of Anthelmintics/Veterinary API. Rishichem Research Limited business of manufacturing speciality chemicals. Desh Chemicals Private Limited is business of manufacturing, producing chemicals of all kinds. Lasa Supergenerics Limited manufacturing, producing, processing, preparing, treating, disinfecting, dealing,etc. of various chemicals and Omkar Speciality Chemicals Limited manufacturing, producing, processing, preparing, treating speciality chemicals,pharmaceutical chemicals, industrial chemicals. Lasa Laboratory Private Limited and Urdhwa Chemical Company Private Limited and Rishichem Research Limited and Desh Chemicals Private Limited and Lasa Supergenerics Limited are wholly owned subsidiries of Omkar Speciality Chemicals Limited .The Appointed date for Amalgamation is 1st April,2015 and for Demerger is 2nd April,2015.
The number of Schemes admitted were 40 (Forty) of which 33 (Thirty-three) Schemes were Schemes of Amalgamation, 4 (Four) Schemes were Scheme of Demerger and 3(Three) were Composite Scheme of Arrangement.
IMPORTANT ONES ARE LISTED BELOW:
Scheme of Amalgamation
- Apcotex Solutions India Private Limited with Apcotex Industries Limited.
- Suvi Info Management (Indore) Private Limited with Jagran Prakashan Limited.
Scheme of Demerger
- Reliance Telecom Limited and Reliance Communication Limited.
Total 15 (Fifteen) Schemes of Amalgamation of unlisted were sanctioned.