Vinay Jain's Training Forum Private Limited agreed to acquire Artheon Finance Ltd. from Laxmi Mercantile Private Limited, Ankit Santosh Ganeriwal, Anuj Santosh Ganeriwal, Sarla Devi Khaitan, R P Khaitan and others in a reverse merger transaction.
January 26, 2012 at 11:00 pm
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Vinay Jain's Training Forum Private Limited agreed to acquire Artheon Finance Ltd. (BSE:509026) from Laxmi Mercantile Private Limited, Ankit Santosh Ganeriwal, Anuj Santosh Ganeriwal, Sarla Devi Khaitan, R P Khaitan and others in a reverse merger transaction on January 27, 2012. The others shareholders include Amit Arunkumar Shroff, Rinku Vivek Gadia, Meera Devi Arun Shroff, Arun Shivanath Shroff, Jain Sunil Mahavirprasad, Sanjay H Maloo, Tushar Jiwarajka, Kushma Jiwarajka, Sushil Kumar Jiwarajka and Sushil Kumar Jiwarajka HUF. As per the terms of the transaction, 4 shares of Artheon Finance will be issued for each share of Vinay Jain's Training Forum, and one equity share of Artheon Finance will be issued for each preferred share of Vinay Jain's Training Forum. The name of Artheon Finance Ltd. will be changed to VJTF Eduservices Limited on completion of the transaction. The registered office of Artheon Finance will also be changed.
The transaction is subject to approval of majority of shareholders of Vinay Jain's Training Forum and Artheon Finance, approval of High Court and any other sanction or approval of any governmental or regulatory authority. The transaction received approval in principle by the Board of Directors of Artheon Finance on January 27, 2012. The Board of Directors of Artheon Finance approved the transaction on February 9, 2012. Bombay Stock Exchange approved the deal on May 28, 2012. Board also appointed Sushil Kumar Jiwarajka and Tushar Jiwarajka Director of the Artheon Finance to do all necessary paper work and documentation for the proposed scheme of amalgamation. The meeting of the shareholders of Artheon Finance Ltd. will be held on August 24, 2012 to approve the transaction. As on August 24, 2012, majority of the shareholders of Artheon Finance approved the transaction. As of December 20, 2012, High Court of Bombay approved the merger. As on January 18, 2013, Artheon Finance is completing the formalities required for the completion of the deal.
J. Kala Associates acted as accountant for Artheon Finance. Intensive Fiscal Services Pvt. Ltd. acted as financial advisor for Artheon Finance Ltd. Crawford Bayley & Co. acted as legal advisor for Artheon Finance Ltd.
VJTF Eduservices Limited is engaged in the business of education services, education infrastructure, curriculum development, training, management of institutions and education audits. The Company provides consultancy and advisory services, including institutional management; creating and setting up of institutions, upgradation of existing set-ups; curriculum development and designing; education quality audits; human resources (HR) and administration support to institutions; training programs; education consultancy and advisory services for promotion of women education; and training and implementation of CIPP, IGCSE and other international programs in Institutions. Its education programs include Witty Kids, Witty International School, Witty Inclusive & Special Education, Witty Institute of Teacher Training, and I & My Child. The Company provides services to operational education projects. It also provides required auxiliary/support services to other companies in the education sector.
Vinay Jain's Training Forum Private Limited agreed to acquire Artheon Finance Ltd. from Laxmi Mercantile Private Limited, Ankit Santosh Ganeriwal, Anuj Santosh Ganeriwal, Sarla Devi Khaitan, R P Khaitan and others in a reverse merger transaction.
VJTF EDUSERVICES LIMITED 
