9911796707
TMI Blog1995 (5) TMI 216X X X X Extracts X X X X X X X X Extracts X X X X ..... ional Informatics Solutions (P.) Ltd. has moved this petition for sanction of the scheme of amalgamation annexed to the petition as Exhibit-C of International Informatics Solutions (P.) Ltd. ('transferor company') with ISCT Information Technology Ltd. ('transferee com- pany'). 2. CA 1023 of 1994 was moved by the transferor company for approval of the scheme of its amalgamation with the transfe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. It has inter alia been pleaded that separate meetings of the equity shareholders of the transferor-company as also the transferee company were held in pursuance of the order of this Court to consider the scheme of amalgamation, which has been approved by them. It has also been claimed that the proposed scheme will result in economies of scale, reduction in administrative and procedural w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted in a manner, prejudicial to the interests of its shareholders or its creditors or of the public interests and the transferor company may be dissolved without the process of winding up. 5. Dr. A.K. Doshi, Regional Director, Northern Region, Deptt. of Company Affairs, has filed affidavit sworn on 10-4-1995 stating therein that the affairs of the transferor and transferee companies have not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inding on all the shareholders of the transferee-company and all the shareholders of the transferor-company and all the assets, liabilities and reserves of the transferor company shall vest in the transferee-company. The Registry shall draw up/issue a formal order in accordance with law. Copy of the formal order be filed with the Registrar of Companies within 30 days of this order. It is further d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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