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TMI Blog2016 (8) TMI 1246X X X X Extracts X X X X X X X X Extracts X X X X ..... - Dated:- 29-8-2016 - Mr. Alok Kumar Kuchhal, Advocate for the applicant Sudershan Kumar Misra, J. 1. This joint application has been 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 Superlite Auto Private Limited (hereinafter referred to as the transferor company no. 1) and Sunlite Finvest Private Limited (hereinafter referred to as the transferor company no. 2) with Ferolite Jointings Limited (hereinafter referred to as the transferee company). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... transferee company is ₹ 50,00,000/- divided into 50,000 equity shares of ₹ 100/- each. The issued, subscribed and paid-up share capital of the company is ₹ 40,00,000/- divided into 40,000 equity shares of ₹ 100/- each. 9. Copies of the Memorandum and Articles of Association of the transferor and transferee companies have been filed on record. The audited balance sheets, as on 31st March, 2015, of the transferor and transferee companies, along with the report of the auditors, have also been filed. 10. 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 by the appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he transferor and transferee companies have been placed on record. 14. The transferor company no. 1 has 03 equity shareholders and 01 unsecured creditor. All the equity shareholders and the sole unsecured creditor have given their consents/no objections in writing to the proposed Scheme of Amalgamation. There consents/no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meetings of the equity shareholders and unsecured creditor of the transferor company no. 1, 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. 1, as on 2nd ..... X X X X Extracts X X X X X X X X Extracts X X X X
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