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TMI Blog2012 (7) TMI 1048X X X X Extracts X X X X X X X X Extracts X X X X ..... ituated within the National Capital Territory of Delhi and are within the jurisdiction of this Court. 3. Details with regard to the date of incorporation of Transferor and Transferee Companies, their authorized, issued, subscribed and paid up capital have been given in the Application. 4. Copies of the Memorandum and Articles of Association as well as the latest audited Annual Accounts for the year ended 31st March, 2011 and 30th June, 2011 of the Transferor and the Transferee Company respectively have also been enclosed with the Application. 5. Learned Counsel for the Applicant Companies submit that no proceedings under sections 235 to 251 of the Companies Act, 1956 are pending against any of the Applicant Companies as on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ansferor Company is also dispensed with. Since, the Transferor Company has no Secured Creditors, therefore, the requirement of convening their meeting does not arise. 11. The Transferee company has 14 secured creditors to the tune of Rs. 1,593,006,295.68 and 26 unsecured creditors to the tune of Rs. 331,314,178.00. Learned counsel for the applicants submit that post amalgamation the net worth of the transferee company will be more than its pre-amalgamation net worth and, therefore, the interest of the creditors of the transferee company will not be adversely affected. He, therefore, prays that the requirement of convening and holding the meeting of the Secured and Unsecured Creditors of the Transferee company may also kin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; Shareholders of the Transferee Company shall be held on 4th August, 2012 at 2:30 p.m. at "Shah Auditorium, Shree Delhi Gujrati Samaj Marg, Civil Lines, Delhi-110054. 14. Ms Ruchi Sindhwani, Advocate, Cell No. 9811533510 is appointed as the Chairperson and Ms Mukta Kapoor, Advocate, Cell No 9810106154 is appointed as the Alternate Chairperson for the meeting of Equity Shareholders of the Transferee Company. They would be paid a fee of Rs. 50,000/- each. Mr Pradeep Kumar, Cell No.9650268881 and Mr/Ms Shakeel Ahmad, Cell No. 9717394842 shall provide secretarial assistance to the Chairperson and the Alternate Chairperson. They shall be paid a fee of Rs. 10,000/- each for this purpose. 15.The Transferee Company is also dire ..... X X X X Extracts X X X X X X X X Extracts X X X X
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