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TMI Blog2011 (6) TMI 668X X X X Extracts X X X X X X X X Extracts X X X X ..... company have been conducted in a manner prejudicial to the interests of its members or to public interest or there were any transactions to attract the provisions of sections 542 and 543 of the Companies Act. company petitions are ordered, as the scheme of amalgamation will be for the benefit and interest of equity shareholders of the transferor and transferee companies - C.P. NOS. 68 & 69 OF 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the transferor company was, thereafter, shifted to Plot No. TS140, Block 2 and 9, Elnet Software City, Rajiv Gandhi Salai, Taramani, Chennai, with effect from October 7, 2010, vide resolution dated December 22, 2010. 3. The board of directors of the transferor and transferee companies approved and adopted the scheme of amalgamation to transfer and merge the transferor company with the trans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional Director, Ministry of Corporate Affairs, Chennai, on behalf of the Central Government, has filed an affidavit to the effect that it has no objection to the scheme, except the following : "4. I further submit that as per Part IV, paragraph 3.10 of the petition that upon the scheme becoming effective the authorised share capital of the transferor companies shall be added to the authorized ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the appeal, that the issue was not whether the fee which was already paid by the transferor company would automatically be transferred to the transferee company. But what was intended by section 391 was to reconstitute the company without the company being required to make a number of applications under the Companies Act for various alterations which might be required in its memorandum and the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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