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TMI Blog2014 (6) TMI 814X X X X Extracts X X X X X X X X Extracts X X X X ..... meetings of the equity shareholders and preference shareholders of the Transferee Company are waived. The convening of the meeting of the equity shareholders of the Transferor Company is also waived. - Decided in favour of appellant. - CA Nos. 247 & 248 of 2014 - - - Dated:- 28-2-2014 - Mr. Anand Byrareddy, J. Shri. S. Vivekananda for the Applicant. ORDER 1. Both these applications are considered together, having regard to the facts and circumstances: The applicant in C.A.247/2014 is Schneider Electric IT Business India Private Limited - the Transferee Company, which was incorporated in the year 1997 in the name and style of 'American Power Conversion (India) Limited', in the State of Karnataka. The name was chan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0,00,000 equity shares of Rs.10/-each and the issued, subscribed and paid up capital of the Transferor Company is Rs.8,60,00,000/- divided into 86,00,000 equity shares of Rs.10/- each. It is stated that the Transferor company has two equity shareholders and that it has no secured loans but has 152 unsecured sundry and trade creditors. That the amalgamation of the Transferor Company - Uniflair India Private Limited with the Transferee Company - Schneider Electric IT Business India Pravate Limited, would not have any adverse impact on the unsecured creditors of the Transferor company. The Board of Directors of the Transferor Company had passed a resolution on 20.12.2013 approving and adopting the Scheme of Amalgamation with the Transfer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Transferor Company is also waived. The meeting of the unsecured creditors of the Transferor Company is directed to-be held on 9.04.2014 at 10.00 a.m., at Beary's Global Research Triangle, Sy.No.63/3B, Gorvigere Village, Bidarahalli Hobli, Kannamangala Po, Bangalore East Taluk, Whitefield-Hoskote Road, Bangalore-560 067. The Chairman of the meeting shall be Mr. Subhash Bhatt, Finance Controller and failing him, Ms. Sormistha Ghose, Senior Corporate Counsel. The meeting of the unsecured creditors of the Transferee Company shall be held on 9.04.2014 at 11.00 a.m., at Beary's Global Research Triangle, Sy.No.63/3B, Gorvigere Village, Bidarahalli Hobli, Kannamangak Po, Bangalore East Taluk, Whitefield-Hoskote Road, Bangalore-560 06 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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