2009 (2) TMI 877

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ps Realty Private Limited is the de-merged company, which proposes to enter into a composite scheme of arrangement between Gallops Realty Private Limited, the applicant de-merged company with Atithya Inn Private Limited, the resulting company, the applicant in the Company Application No.31 of 2009 under Sections 391 394 read with Sections 78 and 100 to 103 of the Companies Act, 1956. It has bee....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ard of Directors has thought it appropriate to spin off the hotel business of Gallops into a separate company and continue with the activity of real estate development. Post arrangement the entire hotel business will be concentrated in Atithya Inn, the resulting company. It has been pointed out that there are only three equity shareholders, four unsecured creditors and no secured creditors of t....