9911796707
TMI Blog2016 (3) TMI 697X X X X Extracts X X X X X X X X Extracts X X X X ..... ompanies Act, 1956 (hereinafter `the Act of 1956') read with Sections 52, 100 to 104 of the Act of 1956 so as to be binding on all its shareholders and creditors. The petitioner Divine Heritage Hotels Private Limited (Transferor Company) with its registered office at No.24,25 and 26 Mahindra Towers, Durga Vihar Colony, Tonk Road, Jaipur was registered on 23-1-2008. Its share capital as on 31-3-2015 was Rs. 75,00,000/- having 7,50,000 equity shares of Rs. 10/- each. Issued, subscribed and paid up share of the petitioner company was 70,00,000/- having 7,00,000 equity shares of Rs. 10/- each. There is no change in the capital structure. The authorised share capital of the Mahindra Holidays & Resorts India Limited (Transferee Company) as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s court with further directions to publish the same in two daily news papers i.e. Rajasthan Patrika Jaipur Edition and financial Express Delhi Edition. This was so done on 26-8- 2015. Copies of the notices published have been filed before this court. Despite that no one has appeared to object to the scheme of amalgamation. The Official liquidator attached this Court has filed his report on 8-2- 2016, which discloses no objection to the scheme of amalgamation as approved and adopted in the meeting of shareholders and creditors of which sanction was sought from this court. The Regional Director in his affidavit filed on 20-11-2015 has submitted that the Income Tax Department vide letter dated 7-10-2015 has intimated that there is a demand of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidered opinion is not relevant for this court on the say of the Regional Director as none of the employees of the transferor company has approached this court despite publication of notice regarding this petition for sanction of the scheme. The scope of the Company Court sitting over an application for sanctioning a scheme of amalgamation on an application under sections 391 to 394 of the Act of 1956 is supervisory in nature and limited to ensuring that in the process there is no violation of any statutory rule or prejudice to public interest. From the affidavit submitted by the Regional Director and the report of the Official Liquidator, following notices on the second motion under Sections 391 to 394 of the Act of 1956, it is quite app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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