9911796707
TMI Blog2006 (9) TMI 288X X X X Extracts X X X X X X X X Extracts X X X X ..... meetings of the shareholders and creditors of the transferor and transferee-companies was dispensed with for the purpose of considering, and if thought fit, approving, with or without modification, the scheme of amalgamation annexed to the affidavit of Shri Ajesh Gupta, Director of the petitioner companies, filed on 14th day of March, 2006 and the publication in the newspapers namely (1) Statesman (English) dated 30-8-2006 and (2) Veer Arjun (Hindi) dated 31-8-2006 each containing the advertisement of the said petition and upon hearing Shri Sanjay K. Maria, Advocate, for the petitioner-company, and Mr. R.D. Kashyap, Dy. Registrar of Companies, in person, and upon reading the affidavit dated 20-9-2006 of Shri Rakesh Chandra, Regional Di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red that in view of the statement made by the counsel, which will be binding on the transferee-company, this objection has become infructuous. The court further ordered that in case amendment, modification or addition to the main objects of the transferee-company is required, the transferee-company shall follow the procedure prescribed under the provisions of Act and the rules. (3)That the transferor-company is a non-banking financial company registered with the Reserve Bank of India and it is not mentioned in the petition/scheme whether Reserve Bank of India has been informed about the proposed scheme of amalgamation. Counsel for the petitioner stated that the transferor-company has not taken any deposit from the public and has no credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rry out necessary correction in the prayer clause of Company Petition No. 187/2006. As per the said correction, the appointed date is 1-4-2005 and the said correction has been initiated by the counsel. In view of the above, the court did not find any merit in the objection and overruled the same; and considering the affidavit of Shri A.K. Chaturvedi, Official Liquidator, filed on 23-9-2006 stating therein that the affairs of the transferor-company have not been conducted in a manner prejudicial to the interest of its members or to public interest; and there being no investigation proceedings pending in relation to the petitioner-company under sections 235 to 251 of the Companies Act, 1956. 2. This Court doth hereby sanction the scheme o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s is required by clause 11 of Part IV given in the scheme of amalgamation herein the shares in the transferee-company to which they are entitled under the said amalgamation; and 5.That the transferor-company do within 30 days after the date of this order cause a certified copy of this order to be delivered to the Registrar of Companies for registration, and on such certified copy being so delivered, the transferor-company shall be dissolved without the process of winding up and the Registrar of Companies shall place all documents relating to the transferor-company, and registered with him on the file kept by him in relation to the transferee-company and the files relating to the said transferor and transferee-companies shall be consolidat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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