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TMI Blog2017 (1) TMI 269X X X X Extracts X X X X X X X X Extracts X X X X ..... cial Liquidator and the Regional Director, Northern Region, respectively, not raising any objection to the proposed Scheme of Amalgamation, there appears to be no impediment to the grant of sanction to the Scheme of Amalgamation. Hence, sanction is hereby granted to the Scheme of Amalgamation under sections 391 and 394 of the Companies Act, 1956. The petitioners will comply with the statutory requirements in accordance with law. A certified copy of this order, sanctioning the Scheme, be filed with the ROC, within thirty (30) days of its receipt. - CO.PET. 634/2016 - - - Dated:- 19-12-2016 - MR. SIDDHARTH MRIDUL J. Through: Mr Manoj Kumar Garg and Mr Prem Mardi, Advocates for petitioner. Ms Aparna Mudiam, Asst. ROC for RD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st Iwata Motherson Private Limited and a fresh certificate of incorporation dated 31.03.2015 was issued. 6. The authorized share capital of the Transferor Company as on 31.03.2015 is ₹ 1,00,00,000/- divided into 10,00,000 Equity Shares of ₹ 10/-. The issued, subscribed and paid up share capital of the Transferor Company as on 31.03.2015 is ₹ 80,00,000/-, divided into 8,00,000 Equity Shares of ₹ 10/- each. 7. The authorized share capital of the Transferee Company as on 31.03.2015 is ₹ 45,00,00,000/-, divided into 4,20,00,000 Equity Shares of ₹ 10/- each and 30,00,000 Preference Shares of ₹ 10/- each. The issued, subscribed and paid up share capital of the Transferee Company as on 31.03.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the corresponding provisions of the Companies Act, 2013) are pending against either of the Petitioners. 12. The Board of Directors of the Petitioners in their separate meetings held on 07.12.2015 have unanimously approved the proposed Scheme of Amalgamation. Copies of the Resolutions passed at the meetings of the Board of Directors of the Petitioners have been placed on record. 13. The Petitioners had earlier filed a an application being Company Application (Main) No. 67 of 2016, seeking directions of this Court to dispense the requirement of convening the meetings of Equity Shareholders, Secured and Unsecured Creditors of the Transferor Company and; Equity Shareholders, Preference Shareholders, Secured and Unsecured Creditors ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1956. 16. Therefore, no objection has been raised on behalf of the Official Liquidator to the grant of sanction to the Scheme. 17. In response to the notices issued in the Petition, the Regional Director, Northern Region, Ministry of Corporate Affairs, New Delhi has filed an affidavit dated 11.11.2016 stating that the Regional Director has no objection to the proposed Scheme. 18. No objection has been received to the Scheme of Amalgamation from any other party. By way of affidavit dated 08.11.2016 of Mr. P. Srinivasan, authorized signatory of the Transferor Company and affidavit dated 09.11.2016 of the counsel for the petitioners, it has been averred that neither the petitioners nor their counsel have received any objecti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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