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TMI Blog2009 (1) TMI 482X X X X Extracts X X X X X X X X Extracts X X X X ..... ansferor Company have been conducted in such a way that it is not prejudicial to interest to its members or to public interest. The Chartered Accountants have stated that undertakings of compliance of AS 14 of the Institute of Chartered Accountants of India should be taken and in compliance of such directions Company has also given such an undertaking. - C.P. NO. 139 OF 2008 (O&M) AND C.P. NO. 20 OF 2008 - - - Dated:- 16-1-2009 - K. KANNAN, J. A.C. Jain and D.P. Ojha for the Official Liquidator. JUDGMENT 1. This petition has been filed under sections 391 to 394 seeking for confirmation of the Scheme of Arrangement of M/s. Mohta Bearings Limited (Transferor Company) with M/s. Trishiv Investments Pvt. Ltd. (Transferee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deriving income from real estate business. 4. The entire share capital of the Transferor Company and the Transferee Company were held by Mohta Family and Company in which they had substantial stake, there was no outside public interest in the shareholdings in both the amalgamating Companies. The Transferor Company had Anshuman Mohta, M.C. Agarwal, Vinod Shah and Richa Anirudh Agarwal as Directors of Transferor Company with nil shareholding except M.C. Agarwal who holds one equity share of Rs. 10, whereas Rajyashree Bhartia, Anshuman Mohta, Ramesh Tapuriah, Raj Ratan Pugalia and Sanjay Kumar Kabra as Directors of the Transferee Company with nil shareholding except Anshuman Mohta who holds 5500 equity shares of Rs. 10 each. The Direc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Company has no secured or unsecured creditors. The meeting was accordingly held and the copy of the report has also been filed and already put on record of Company Petition No. 20 of 2008. The report of the Chairman had been taken on record and an order was passed on 18-7-2008 by this Court directing the Companies to file second motion petition and seek for confirmation of the Scheme of Arrangement. The Hon ble Delhi High Court has already passed an order dated 27-5-2008 dispensing with the meeting of shareholders and secured creditors of the transferee company. The notice of the petition of second motion was served on Regional Directors, Ministry of Corporate Affairs, Nodia exercising the power of the Central Government and advertisements ..... X X X X Extracts X X X X X X X X Extracts X X X X
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