2016 (4) TMI 1257

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..... r Section 101(2) of the Companies Act, 1956 and under Rules 46 to 65 of the Companies (Court) Rules 1959 and the same is, hereby, granted. - Company Application No. 152 of 2016 - - - Dated:- 21-4-2016 - Honourable Smt. Justice Abhilasha Kumari Mrs Swati Soparkar, Advocate for the Applicant. ORAL ORDER 1. A Composite Scheme of Arrangement in the nature of Demerger and Transfer of .....

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..... cant Company. 3. Heard Mrs. Swati Soparkar, learned advocate for the applicant Company. 4. It has been submitted that all the Equity Shareholders and Unsecured Creditors of the Applicant Company, as on date, have approved the Scheme in the form of written consent letters. All these consent letters are annexed with the Application as Exhibits D and E respectively. It has been submitted th .....

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..... ure, is proposed as an integral part of the proposed Scheme of Arrangement. It has been further pointed out that the proposed reduction does not involve either diminution of liability in respect of unpaid share capital or payment to any shareholder of any paidup share capital and the order of the Court sanctioning the Scheme shall be deemed to be an order under Section 102 of the Companies Act, 19 .....

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