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TMI Blog2016 (1) TMI 1314X X X X Extracts X X X X X X X X Extracts X X X X ..... dingly, given the fact that the transferor company is a 100% subsidiary of the transferee company, the requirement to convene meetings of shareholders and creditors can be dispensed with. It is ordered accordingly. - CO.APPL.(M) 9/2016 - - - Dated:- 18-1-2016 - HON'BLE MR. JUSTICE RAJIV SHAKDHER ORDER 1. This is a first motion application, which is jointly moved by applicant no.1/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es of Association as well as the latest audited annual accounts for the year ended 31.03.2015 of the applicants have been filed. 5. I am informed by the learned counsel for the applicants that no proceedings under Section 235 to 251 of the Act are pending against any of the applicants as on date. 6. The proposed scheme has been approved by the respective Board of Directors (BOD) of applicant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the statutory dues and expenses payable, is enclosed with the application. 7. The status of the shareholders, secured and unsecured creditors of the applicants and the consent obtained by them for the proposed scheme is set out in the table given below as laid down in the application:- Company No. Of Shareholders Consent given No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of shareholders and creditors (i.e. secured and unsecured creditors), but also held that the transferee company is not required to file any application / petition under Section 391 and 394 of the Act. For this purpose, learned counsel relied upon the order of this court dated 28.05.2009, passed in Co.Appl.(M) No. 117/2009, titled: Mapsko Hotels Resorts Pvt. Ltd. with Mapsko Builders Pvt. Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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