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TMI Blog2016 (7) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... This joint application has been filed under Sections 391(1) and 394 of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959 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 S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00 equity shares of Rs. 10/- each. The issued, subscribed and paid-up share capital of the company is Rs. 8,81,000/- divided into 88,100 equity shares of Rs. 10/- each. 6. The present authorized share capital of the transferee company is Rs. 40,00,000/- divided into 4,00,000 equity shares of Rs. 10/- each. The issued, subscribed and paid-up share capital of the company is Rs. 35,30,000/- divided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nable better leverages of facilities, infrastructure and human resources for better administration. It is further claimed that the proposed amalgamation will result in reduction in overheads, administrative, managerial and other expenditure and bring about operational rationalization, organizational efficiency, and optimal utilization of various resources. 9. So far as the share exchange ratio is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings of the Board of Directors of the transferor and transferee companies have been placed on record. 12. The transferor company has 04 equity shareholders. All the equity shareholders have given their consents/no objections in writing to the proposed Scheme of Amalgamation. Their consents/no objections have been placed on record. They have been examined and found in order. In view thereof, the r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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