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TMI Blog2015 (7) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... iled by the transferor and transferee companies in support of summons, there is no mention of share exchange ratio. The only reference in para 14 of the affidavit is that the transferee company shall issue and allot shares to the shareholders of the transferor company. Also there is a contradiction of the share exchange ratio as mentioned in the valuation report and in the Scheme of Amalgamation. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en filed under Sections 391 to 394 of the Companies Act, 1956 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 without modification, the proposed Scheme of Amalgamation of M/s. Arcadia Management Services Private Limited (hereinafter r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 10/- each fully paid up to the equity shareholders of the Transferor Company for every 1 (one) equity share of ₹ 10/- each held in the Transferor Company. It is further mentioned in the Scheme that this share exchange ratio is as per the valuation report provided by an independent valuer, Gopal Rao Company, Chartered Accountants. 4. It is pertinent to mention here that in the aff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ciates, Chartered Accountants or of Gopal Rao Company, Chartered Accountants, the applicants are basing their share exchange ratio in the Scheme of Amalgamation. 5. It is further noticed from the list of shareholders of the transferor and transferee companies that IVM Intersurer B.V. is the holding company of the said companies, which are proposed to be amalgamated. The consents given on beha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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