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TMI Blog2007 (7) TMI 683X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 of 2006, C.J. Joy and G.C. Mishra, Regional Director JUDGMENT D.B. Bhosale, . 1. The sanction of the court is sought to a scheme of amalgamation under Sections 391 to 394 of the Companies Act, 1956. 2. Mr. Shah, learned Counsel appearing for the petitioner, has stated before the court that in so far as the transferor company is concerned : (i) all the equity shareholders have gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd in paragraph 6 thereof raised an objection stating that as per Clause 12.1 of the scheme shares will be issued by the transferee company to the members of the transferor company. But objection of Scheme of emulation was that no valuation report was submitted by the petitioner-company in respect of exchange ratio arrived at for such issue of shares by the transferee company to the members of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tant and auditor. In the present case, no shareholder had challenged the amalgamation. In the circumstances, valuation report was not necessary. 5. The official liquidator has stated in his affidavit dated June 12, 2007, that the affairs of the transferor company have been conducted in a proper manner and not prejudicial to the interest of its members or the public interest. 6. There is no o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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