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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 ..... ct and in terms of the Scheme, the property, assets, rights and powers of the Petitioner Transferor company shall be transferred to and vest in the Transferee company without any further act or deed. Similarly, in terms of the Scheme, all the liabilities and duties of the Petitioner Transferor company shall be transferred to the Transferee company without any further act or deed. Upon the scheme coming into effect, the Transferor company shall stand dissolved without winding up - Petition allowed. - Company Petition No. 26 of 2013 - - - Dated:- 4-7-2013 - R. V. Easwar,JJ. For the Petitioner : Ms. Pooja M. Saigal, Advocate For the Respondent : Mr. K. S. Pradhan, Mr. Rajiv Bahl, Advocate JUDGMENT R. V. Easwar, J.: (Oral) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act are pending against the Petitioner Transferor company. 7. The Petitioner company had earlier filed CA (M) No. 197 of 2012 in this Court seeking directions for dispensation of the meetings of the shareholders, and the unsecured creditors stating that the company had no secured creditors. By order dated 20th December 2012, this Court allowed the application and dispensed with the requirements of convening their meetings. 8. The Petitioner company has thereafter filed the present petition seeking sanction of the proposed Scheme. By order dated 21st January 2013, notice in the petition was directed to be issued to the Regional Director( RD ), and the Official Liquidator ( OL ). Citations were also directed to be published in The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder 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 the Act and in terms of the Scheme, the property, assets, rights and powers of the Petitioner Transferor company shall be transferred to and vest in the Transferee company without any further act or deed. Similarly, in terms of the Scheme, all the liabilities and duties of the Petitioner Transferor company shall be transferred to the Transferee company without any further act or deed. Upon the scheme coming into effect, the Transferor company shall stand dissolved withou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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