2014 (6) TMI 814

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..... 2012. The registered office of the applicant is in Bangalore. The authorised share capital of the applicant - Transferee Company is Rs.6,00,00,000/- divided into 50,00,000 Equity shares of Rs.10/- each and 10,00,000 Preference Shares of Rs.10/- each and the issued, subscribed and paid up capital of the company is Rs.3,47,02,340/- divided into 34,16,688 equity shares of Rs.10/-and 53,546 preference shares of Rs.10/- each. The applicant is engaged in the manufacture and production of inverters, designers, convertors, etc., and associated software and accessories. It is claimed that Clause 33 under the head 'The objects incidental or ancillary' of the Memorandum of Association of the applicant, permits amalgamation and similarly, Cl .....

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..... ion seeking dispensation from convening meetings of equity shareholders and issue directions to convene the meetings of unsecured creditors. 3. The Transferee Company has four equity shareholders and one Preference shareholder. It is said that it has no secured loans, but has unsecured sundry creditors. The amalgamation of the Transferor and the Transferee companies as claimed, would not have any adverse impact on the unsecured creditors of the Transferee Company. The Board of Directors, of the Transferee Company passed a resolution dated 20.12.2013 approving and adopting the Scheme of Amalgamation of Uniflair India Private Limited with Schneider Electric IT Business India Private Limited, subject to the sanction of this Court and that th .....

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..... . Sameet Gambhir, Company Secretary. The advertisement of the notices of the meetings shall be taken out in "The Hindu" - English daily and "Samyuktha Karnataka" - Kannada daily, on or before 15.03.2014. The notices of the meetings and other papers are permitted to be sent by e-mail to unsecured creditors whose email ids are with the respective applicants, and registered posts are permitted to be sent in respect of the other unsecured creditors. The unsecured creditors are also permitted to participate and vote through proxies. The Chairman of the meetings of the respective companies shall file their report within a week from the date of the meetings. The applications stand allowed in terms as above.
Case laws, Decisions, Judgement .....

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