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TMI Blog2010 (12) TMI 1071X X X X Extracts X X X X X X X X Extracts X X X X ..... the Official Liquidator. ORDER 1. This second motion petition under sections 391-394 of the Companies Act, 1956 ( the Act ) has been filed by Doosan Babcock Engineering Services India Private Limited and Doosan Babcock Energy India Private Limited (the transferor-company Nos. 1 and 2 respectively) and Doosan Projects India Private Limited (hereinafter referred to as the transferee-compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een no material change in the creditors and shareholding pattern of the transferor-company Nos. 1 and 2 and the transferee-company. The transferor-company Nos. 1 and 2 and the transferee-company are group companies. 3. After filing of the present petition, notices were issued to the Official Liquidator and the Regional Director (Northern Region). Notice of hearing of petition was also advertised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icial to the interest of its members or public interest. 5. The Regional Director (Northern Region) in his report has stated that all employees of the transferor-company Nos. 1 and 2 shall become employees of the transferee-company without any break or interruption in their services upon sanction of the scheme. 6. The Regional Director (Northern Region) has, however, raised an objection statin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de and is in nature of a Single Window Clearance System, which ensures that the parties are not put to avoidable, unnecessary and cumbersome procedure. It is noticed that the nature of amendment prayed for and mentioned in the scheme will result in incorporation of the business activities, which were earlier being undertaken by the transferor-company Nos. 1 and 2, which upon merger will be now und ..... X X X X Extracts X X X X X X X X Extracts X X X X
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