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TMI Blog2015 (8) TMI 237X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent: None ORDER 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 without modification, the proposed Scheme of Amalgamation of Naveen Import Private Limited (hereinafter referred to as the transferor company no. 1); Garg Travel Tours Private Limited (hereinafter referred to as the transferor company no. 2); Latex Enterprises Private Limited (hereinafter referred to as the transferor company no. 3); Pine Mercantile Private Limited (hereinafter referred to as the transferor company no. 4); Ramesh Pandit Builders Promoters Private Limited (hereinafter referred to as the transferor company no. 5); Sun Alucop Private Limited (hereinafter referred to as the transferor company no. 6); and Madhur Muskan Buildcon Private Limited (hereinafter referred to as the transferor company no. 7) with Ekta Infratech Private Limited (hereina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0,600 equity shares of ₹ 10/- each. 14. The present authorized share capital of the transferor company no.4 is ₹ 20,00,000/- divided into 2,00,000 equity shares of ₹ 10/- each. The issued, subscribed and paid up capital of the company is ₹ 3,60,000/- divided into 36,000 equity shares of ₹ 10/- each. 15. The present authorized share capital of the transferor company no.5 is ₹ 6,00,000/- divided into 60,000 equity shares of ₹ 10/- each. The issued, subscribed and paid up capital of the company is ₹ 3,78,000/- divided into 37,800 equity shares of ₹ 10/- each. 16. The present authorized share capital of the transferor company no.6 is ₹ 10,00,000/- divided into 1,00,000 equity shares of ₹ 10/- each. The issued, subscribed and paid up capital of the company is ₹ 2,87,000/- divided into 28,700 equity shares of ₹ 10/- each. 17. The present authorized share capital of the transferor company no.7 is ₹ 10,00,000/- divided into 1,00,000 equity shares of ₹ 10/- each. The issued, subscribed and paid up capital of the company is ₹ 9,50,000/- divided into 95,000 equity shares of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credited as fully paid-up, of the transferee company for every 01 equity share of ₹ 10/- each fully paid-up held in the transferor company no. 4. 01 equity share of ₹ 10/- each, credited as fully paid-up, of the transferee company for every 01 equity share of ₹ 10/- each fully paid-up held in the transferor company no. 5. 01 equity share of ₹ 10/- each, credited as fully paid-up, of the transferee company for every 01 equity share of ₹ 10/- each fully paid-up held in the transferor company no. 6. 01 equity share of ₹ 10/- each, credited as fully paid-up, of the transferee company for every 01 equity share of ₹ 10/- each fully paid-up held in the transferor company no. 7. 22. It has been submitted by the applicants that no proceedings under Sections 235 to 251 of the Companies Act, 1956 are pending against the applicant companies. 23. The Board of Directors of the transferor and transferee companies in their separate meetings held on 25th March, 2015 have unanimously approved the proposed Scheme of Amalgamation. Copies of the Resolutions passed at the meetings of the Board of Directors of the transferor a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd found in order. In view thereof, the requirement of convening the meetings of the equity shareholders and unsecured creditors of the transferor company no. 4 to consider and, if thought fit, approve, with or without modification, the proposed Scheme of Amalgamation is dispensed with. There is no secured creditor of the transferor company no. 4, as on 31st March, 2015. 28. The transferor company no. 5 has 16 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 transferor company no. 5 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 transferor company no. 5, as on 31st March, 2015. 29. The transferor company no. 6 has 13 equity shareholders and 01 unsecured creditor. All the equity shareholders and the only unsecured creditor have given their consents/no objections in writ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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