2015 (9) TMI 1647 - HC - Companies Law

Scheme of amalgamation - First Motion petition under Section 391 to 394 read with Section 100 to 104 of the Companies Act, 1956 - eight are transferor companies and the ninth is the transferee company - HELD THAT - All the shareholders of all companies / applicants are stated to have given their consent. It is also stated that the applicants do not have any secured creditors. All the unsecured creditors are also stated to have been given their consent. Exemption from meeting is also sought. Arguments heard. Orders reserved.

Summary

The High Court of Delhi allowed an application to condone a delay of 102 days in re-filing a petition. The case involves a scheme of amalgamation under Sections 391 to 394 and Sections 100 to 104 of the Companies Act, 1956. Nine applicants, including eight transferor companies and one transferee company (SRD Trading Private Limited), have moved the petition. Shareholders and unsecured creditors have given their consent, and exemption from a meeting is sought. Arguments have been heard, and orders are reserved.