2013 (8) TMI 31

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..... tions 391 and 394 of the Companies Act, 1956 ('Act') in connection with the Scheme of Arrangement ('Scheme') of Madhusudan Auto Limited (hereinafter referred to as 'Transferor Company') and Strong Vintrade Private Limited (hereinafter referred to as 'Transferee Company') [hereinafter collectively referred to as 'Applicant Companies']. A copy of the proposed Scheme is enclosed with the application .....

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..... plicant Companies submits that no proceedings under Sections 235 to 251 of the Act are pending against any of the Applicant Companies as on the date of the application. 6. The proposed Scheme has been approved by the Board of Directors ('BoDs') of the Applicant Companies. The copies of the board resolutions have been filed with the application. 7. The status of the shareholders, secured creditor .....

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..... the Transferor Company has 42 (Forty Two) unsecured creditors and 1 (One) unsecured debenture holder and the Transferee Company has 1 (One) unsecured creditor. Out of the 42 (Forty Two) unsecured creditors of the Transferor Company, 35 unsecured creditors in terms of number and more than 93 % in terms of debt have given their NOC to the Scheme. It is further stated that the unsecured debenture ho .....

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