9911796707
TMI Blog2008 (9) TMI 565X X X X Extracts X X X X X X X X Extracts X X X X ..... Seeds (P.) Ltd. was originally incorporated on 28-4-1999 by Registrar of Companies, Jaipur with the name "Subh Shree Seeds Private Limited with the number 17-015565 of 1999-2000 (CIN No. 401122 RJ 19999 PTC 015565). Later on consequent upon change in the name of the Company to the present name Shubh Shree Seeds Private Limited with fresh certificate incorporation on 18-10-2000. The registered office of the petitioner company is situated at 306, Shekhawati Complex, Station Road, Jaipur. The equity authorised share capital of the Transferor Company on 1-4-2007 was Rs. 1 crore divided into 1 lakh equity shares of Rs. 100 each. Issued, subscribed and paid up share capital as on April 1, 2007 was 90,000 equity shares of Rs. 100 each (Total Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 11-1-2008 , the meeting of the secured creditors was held on 23-2-2008 and only one secured creditor, i.e., HDFC Bank holding the value of Rs. 83,46,963.74 was present and approved the scheme as proposed. In the meeting of the unsecured creditors all unsecured creditors unanimously approved carrying into effect the scheme of amalgamation, in these circumstances the transferor company and transferee company submitted that the scheme is bound to be in the interest and benefit of the shareholders, secured and unsecured creditors of the petitioner transferor company and petitioner transferee company. 5. This Court vide order dated 9-5-2008 issued notice of these petitions to the Registrar of Companies, Regional Director and Official Liqui ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the Official Liquidator and scanned the material on record. Official Liquidator's conclusion in the report, is that the affairs of the Transferor Company have not been conducted in a manner prejudicial to the interest of the members and creditors. I have also examined the scheme of amalgamation and found nothing prejudicial to the interest of the Transferor Company and Transferee Company. The Regional Director has also no objection if the transferor company is amalgamated with the transferee company. 8. These company petitions are accordingly allowed. The scheme of amalgamation filed with the company petitions is approved as per the prayer clauses. The Official Liquidator shall be entitled to Rs. 2,500 each from the Transferee Company a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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