2008 (4) TMI 513

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..... ., hereinafter referred to as the Demerged Company, Mercury Industries Ltd. and Mercury Wires (P.) Ltd. seeking confirmation of scheme of arrangement filed as Annexure No. 1 to the petition. They had approached this Court by means of Company Application No. 12 of 2007 for convening a meeting of the creditors of the Demerged Company on which this Court vide order dated 18-12-2007 had appointed Sr .....

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..... l Circle, Sector-I, Noida. Notices have been published in two newspapers and an affidavit has also been filed enclosing copies of the newspapers. The Official Liquidator has submitted his report. He does not have any objection. However, Regional Director, North Region, Ministry of Corporate Affairs, Noida only has objected that ratio of exchange of shares has not been disclosed. 2. Vide orde .....

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..... horities (Official Liquidator). Thus, there being no objection and the Court being satisfied that the Scheme of arrangement of demerger is in the interest of the shareholders/creditors of the three companies, the Scheme of Arrangement of demerger, filed as Annexure No. 1 to the petition, stands approved. Let a formal order be issued within three weeks. 4. The petition stands disposed of. The p .....

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