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TMI Blog2008 (7) TMI 586X X X X Extracts X X X X X X X X Extracts X X X X ..... nction the scheme of merger as set out in the company petitions. - S.B. COMPANY PETITION NOS. 3 & 4 OF 2008 WITH S.B. COMPANY APPLICATION NO. 38 OF 2007 - - - Dated:- 25-7-2008 - SHIV KUMAR SHARMA, J. C.P. Tiwari for the Petitioner. V.K. Khoobchandani for the Official Liquidator. ORDER 1. Goyal Fashions Private Limited (in short Transferee-Company) filed Company Petition No. 3 of 2008 and Archna Creations Private Limited (Transferor-Company No. 1) Ashish apparels Private Limited (Transferor-Company No. 2) Shubham Exports Private Limited (Transferor-Company No. 3) Anupam Export Private Limited (Transferor-Company No. 4) (in short Transferor-Companies 1 to 4) filed Company Petition No. 4 of 2008 for confirmation of S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ivate Limited (Transferor-Company No. 4) was incorporated sunder the provisions of the Companies Act on 15-6-1989, having its registered office at 24, Goyal House, Ajmer Road, Jaipur. The authorised share capital of the Transferor-Company No. 4 as on 31-3-2007 was 2000 Equity Shares of the value of Rs. 100 each (Total Rs. 2,00,000). Issued, Subscribed and paid up Share capital (1000 equity shares of Rs. 100 each (Total Rs. 1,00,000). M/s. Goyal Fashions Private Limited (Transferee-Company) was incorporated under the provisions of the Companies Act on 6-3-1981 having its registered office at 24, Goyal House, Ajmer Road, Jaipur. The authorised share capital of the Transferee-Company as on 31-3-2007 was 24,000 Equity shares of the value of Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of India (English) Delhi Edition. 5. In response to the notice, the Regional Director filed his affidavit in both these petitions and it was submitted that as per Clause 8( a ) of Part III of the Scheme of Amalgamation all the employees of the Transferor-Companies shall become the employees of the Transferee-Company without any break and interruption in their services upon sanctioning of the scheme of amalgamation by this Court. The Transferee -Company and the Transferor Companies 1 to 4 may be asked to furnish an undertaking that they shall comply with the accounting treatment as prescribed under Accounting standard 14 i.e., Accounting for Amalgamation issued by the Institute of Chartered Accountants of India. The Official Liquidator ..... X X X X Extracts X X X X X X X X Extracts X X X X
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