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TMI Blog2015 (11) TMI 1725X X X X Extracts X X X X X X X X Extracts X X X X ..... Equity Shareholders of the Applicant Company which are annexed at AnnexureI (Colly) to the affidavit in support of the Summons for Directions. (2) For the present when the Equity Shareholders have given consent, this Court allows this Application for dispensation with the requirement of holding of the meeting of the Equity Shareholders and advertisement to be published in the newspapers. Simila ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplicant Company to consider and/or approve the proposed Scheme of Amalgamation, are hereby dispensed with. - Company Application No. 365 of 2015 - - - Dated:- 27-11-2015 - Smt. Abhilasha Kumari, J. Mr Sandeep Singhi For Singhi Co, Advocate for Applicant. ORAL ORDER 1. In this Company Application, the Applicant Company, Resinova Chemie Limited, (the Transferor Company), has pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... therefore, it is requested to dispense with the meetings of the Equity Shareholders. 3. Mr.Singhi has further submitted that as, under the proposed Scheme, no compromise is offered to any of the creditors, whether secured or unsecured, and neither is any liability of the creditors under the Scheme being reduced or extinguished. Relying upon the certificate of the Chartered Accountant as well as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Scheme) and having heard Mr. Singhi, learned advocate for the Applicant Company, the following order is passed: (1) That the convening and holding of the meeting of the Equity Shareholders of the Applicant Company, seeking approval to the Scheme is dispensed with, in view of the consent affidavits given by the Equity Shareholders of the Applicant Company which are annexed at AnnexureI (Colly) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... September 2015, as well as the certificate of the Chartered Accountant, it has been submitted that in the case of the Applicant Company, there is an excess of assets over liabilities to the tune of ₹ 48.48 Crores. As per the financial position as on 30th September 2015, in the case of the Transferee Company, there is an excess of assets over liabilities to the tune of about ₹ 12.55 Cro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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