9911796707
TMI Blog2015 (5) TMI 128X X X X Extracts X X X X X X X X Extracts X X X X ..... r of the transferor company to consider and, if thought fit, approve, with or without modification, the proposed Scheme of Amalgamation is dispensed with. - The application approved. - COMPANY APPLICATION (MAIN) NO. 42/2015 - - - Dated:- 29-4-2015 - Sudershan Kumar Misra, J. For the Appellant : Mr. Vivek Malik with Mr.Mukul Thakur Sudershan Kumar Misra, J . 1. This joint application has been filed under Sections 391 and 394 of the Companies Act, 1956 read with Rules 6 9 of the Companies (Court) Rules, 1959 by the applicant companies seeking directions of this court to dispense with the requirement of convening the meetings of their equity shareholders, secured and unsecured creditors to consider and approve, with or wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e companies, along with the report of the auditors, have also been filed. 8. A copy of the Scheme of Amalgamation has been placed on record and the salient features of the Scheme have been incorporated and detailed in the application and the accompanying affidavit. It is claimed that the amalgamation will consolidate the shareholding of both the transferor and transferee companies and improve the administrative control. It is further claimed that the proposed Scheme will result in formation of a large company enabling further growth and development of the businesses of the said companies and will also increase the efficiency by pooling of resources and their optimum utilization, thereby availing synergies from combined resources. 9. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lgamation is dispensed with. There is no secured creditor of the transferor company, as on 31st March, 2014. 13. The transferee company has 14 equity shareholders. All the equity shareholders have given their consents/no objections in writing to the proposed Scheme of Amalgamation. Their consents/no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meeting of the equity shareholders of the transferee company to consider and, if thought fit, approve, with or without modification, the proposed Scheme of Amalgamation is dispensed with. There is no secured or unsecured creditor of the transferee company, as on 31st March, 2014. 14. The application stands al ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
