9911796707
TMI Blog2008 (9) TMI 565X X X X Extracts X X X X X X X X Extracts X X X X ..... J. Rajendra Salecha for the Petitioner. R.C. Meena for the Official Liquida-tor. ORDER 1. Shubh Shree Seeds Private Limited (Transferor Company) filed Com-pany Petition No. 5 of 2008 and Energy Seed International Private Limited (Transferee Company) filed Company Petition No. 6 of 2008 under sections 391 to 394 of the Companies Act, praying therein for passing of Amalgamation of the petitioner transferor company with petitioner Transferee Company. 2. M/s. Subh Shree 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication No. 2 of 2008 before this Court. The transferor company in pursuance to the order of this Court dated 11-1-2008, held meetings of the secured creditors and unsecured creditors on 23-2-2008. In the meeting of secured creditors, none of the secured creditor was present. In the meeting of the unsecured creditors it was unanimously approved carrying into effect the Scheme of Amalgamation. The transferee company filed company application No. 1/2008 and in pursuance to the order of this Court dated 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 cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng that as per the report of Shri N.C. Jain, Chartered Accountant, affairs of the Transferor Company have not been conducted in a manner prejudicial to interest of the members and creditors and he has no objection if upon sanctioning of the scheme of merger, the Transferor Company is ordered to be dissolved within the meaning of section 394(1)( iv ) of the Companies Act. Nobody raised any objection in pursuance to the publication of the notice of these petitions in the newspapers. 7. I have heard the learned counsel and 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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