9911796707
TMI Blog2016 (1) TMI 1315X X X X Extracts X X X X X X X X Extracts X X X X ..... der. Given the fact that all shareholders and creditors (i.e. the secured and unsecured creditors) of the transferee company have given their consent and/or No Objection (NOC) to the proposed scheme, there shall be no requirement to convene the meetings, as prayed. The application stands allowed in the aforesaid terms. - CO.APPL.(M) 15/2016 - - - Dated:- 29-1-2016 - HON'BLE MR. JUSTICE RAJIV SHAKDHER Mr Mukesh Sukhija Mr Yashpal Gupta, Advs. ORDER Rajiv Shakdher, 1. This is a first motion application, which has been moved by Allengers Global Healthcare Private Limited (i.e. applicant/transferee company) (hereafter referred to as the transferee company) under Section 391 and 394 of the Companies Act, 1956 (i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d all the liabilities including Income Tax and other Statutory liabilities of the Transferor Companies shall be transferred to and vest in the Transferee Company. (ii) That all the employees in the service of the Transferor Companies, if any; immediately preceding the Effective Date shall become employee of the Transferee Company on the basis that: (a) their services shall be deemed to have been continuous and not have been interrupted by reasons of the said transfer. (b) the terms and conditions of service applicable to employees after such transfer shall not in any way be less favourable to them than applicable to them immediately preceding the transfer. (iii) That the appointed date for the purpose of Scheme of Amalgamation i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce, the same are extracted hereinbelow: Company No. Of equity Shareholders Consent given No. Of secured creditors Consent given No. Of unsecured creditors Consent given Transferee Company 4 ALL 1 ALL 18 ALL 7. A prayer has been made to dispense with the requirement of convening the meetings of the equity shareholders and the creditors (i.e. the secured and unsecured creditors) of the transferee company. The letters of consent submitted by the shareholders have been seen and examined. They are found ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
