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TMI Blog2013 (10) TMI 1254X X X X Extracts X X X X X X X X Extracts X X X X ..... d motion petition has been filed under Sections 391 and 394 of the Companies Act, 1956 ('Act') by Tirupati BuildPlaza Private Limited (hereinafter referred to as 'Petitioner Transferor company') seeking sanction to the Scheme of Amalgamation ('Scheme') between the Petitioner Transferor company and Gupta Promoters Private Limited (hereinafter referred to as 'Transferee company'). The Petitioner Tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... copies of the resolutions passed by the Boards of Directors ('BoDs') of the Petitioner companies and the Transferee company approving the Scheme have also been placed on record. 6. Learned counsel for the Petitioner company submits that no proceedings under Sections 235 to 251 of the Act are pending against the Petitioner Transferor company. 7. The Petitioner company had earlier filed CA (M) No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the aforesaid newspapers on 8th February 2013, copies of the newspaper cuttings, in original, containing the publications have been filed with the affidavit of service. 9. The RD in his affidavit dated 5th April 2013 has not raised any objection to the Scheme and has stated that, upon sanction of the Scheme, all the staff / employees of the Transferor company shall become the employees of the T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpediment to the grant of sanction to the proposed Scheme. Consequently, sanction is hereby granted to the proposed Scheme under Sections 391 and 394 of the Act. The Petitioner Transferor company will comply with the statutory requirements in accordance with law. 13. A certified copy of the order be filed with the ROC within 30 days from receipt of the same. In terms of Sections 391 and 394 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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