9911796707
TMI Blog2007 (8) TMI 464X X X X Extracts X X X X X X X X Extracts X X X X ..... rangement, and that the said companies will file affidavit in proof of service of certified copies with the Registrar of companies within 14 days from this date. - COMPANY PETITION NO. 1 OF 2006 - - - Dated:- 30-8-2007 - R.K. MERATHIA, J. Binod Poddar, Biren Poddar, Piyush Poddar and Deepak Sinha for the Petitioner. H.K. Mehta for the Regional Director. ORDER 1. Counsel for the petitioners is permitted to correct the paragraph number in course of the day. 2. This Company Petition has been filed jointly on behalf of Indo-Australian Hose Manufacturing Private Ltd., Taudan Auto Components Pvt. Ltd. and Taurus Esdan Hydraulics Pvt. Ltd. under sections 391(1) and 393 of the Companies Act, 1956 for Amalgamation/Mer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the said meetings filed before this Court on 24/26-6-2007 as to the result of the said meetings and upon hearing Mr. Biren Poddar, Advocate of the applicants and it appearing from the reports that the proposed compromise or arrangement has been approved unanimously by the members/shareholders of the respective companies. 5. This Court doth hereby sanction the compromise or arrangement set forth in para 31 of the petition at page 35 herein and in the schedule hereto, and doth hereby declare the same to be binding on the members of the above named companies. 6. And this Court doth further order : That the Scheme of merger/amalgamation of the above named companies shall be effective from 1-4-2007. That the parties to the comprom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompanies shall become the employees of the Transferee Company on the same terms and conditions on which they are engaged by the Transferor companies without any interruption in service as a result of the transfer of the Undertakings of the Transferor Companies to the transferee company. The Transferee Company agrees that the services of all such workmen and employees with the Transferor companies prior to the transfer, as aforesaid, shall be taken into account for the purposes of all benefits to which the said employees may be eligible, including for the purpose of payment of any provident fund dues, gratuity dues retrenchment compensation and other terminal benefits and accordingly, shall be reckoned therefore from the date of their respec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd on account of and in trust for the Transferee Company and, accordingly, the Transferor Companies shall not (without the prior written consent of the transferee Company) alienate, charge or otherwise deal with or dispose off the said Undertakings or any part thereof except in the usual course of business. ( e )All contracts, deeds, bonds, licences, agreements and other documents and instruments of whatsoever nature to which the Transferor Companies are parties subsisting or having effect immediately before the amalgamation shall remain in full force and effect against or in favour of the transferee Company and may be enforced as fully effectually as if instead of Transferor Companies, the Transferee company had been a party thereto." ..... X X X X Extracts X X X X X X X X Extracts X X X X
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