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TMI Blog2004 (5) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... es Act, 1956, petitioner M/s. Steel Kingdom Netcom Limited (hereinafter Transferor Company ) is seeking sanction of the scheme of Merger/Amalgamation of M/s. Indo German International Private Limited (hereinafter Transferee Company ) with Transferor Company. 2. The registered offices of both the companies are situated at 8B, Sagar, 6, Tilak Marg, New Delhi, which are within the territorial j ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company. Petition is duly supported by affidavit. 5. This petition was filed on 12-12-2003. Notices were issued to the Central Government and Regional Director, Department of Company Affairs, Kanpur, and also to the Official Liquidator. The citation was also ordered to be published in The Indian Express (English) and Jansatta (Hindi). Notices were duly published and the citations have been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 Comp. LJ. 102 (Mad.); and Mcleod Russel (India) Ltd., In re [1997] 4 Comp. LJ. 60 1 (Cal.). Amalgamation under section 394 of the Companies Act is primarily an internal matter of the two companies and requires approval of the shareholders, secured and unsecured creditors of the companies seeking amalgamation. It is essentially an arrangement for mutual benefit in creating a larger resource ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ke the scheme effective from 30-6-2004 instead of 1-4-2004. He relied on the judgment of Apex Court in Marshall Sons Co. (India) Ltd. v. ITO AIR 1997 SC 1763, to submit that while sanctioning the scheme of Amalgamation, it is open to the Court to modify the effective date and prescribe such date of amalgamation as it thinks appropriate in the facts and circumstances of the case. In view of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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