2010 (5) TMI 925

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... pplicant Transferee Company being the parent Holding Company in the proposed Amalgamation of Nirma Consumer Care Limited, the wholly owned subsidiary of the applicant Company, the separate proceedings as required to be taken out under the provisions of Section 391(2) of the Companies Act, 1956, are not required to be undertaken by the applicant Company. 2. It is submitted in affidavit, in suppo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... any change and the rights of the existing shareholders of the Transferee Company are not affected in any manner. Therefore, it is submitted that in view of the above, the Holding Transferee Company is not required to take out separate proceedings for obtaining the sanction of this Court to the proposed Scheme of Amalgamation of its wholly owned subsidiary with itself. 3. Ms. Soparkar, learned A .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 5. Co.Appln. No. 411 of 2005 dt. 16.12.2005, Dinesh Platechem Limited, 4. Therefore, it is submitted that it is not necessary for the Holding Company to take out separate proceedings for amalgamation of wholly owned subsidiary. 5. Heard the learned advocate appearing on behalf of the applicant. 6. Having gone through the aforesaid decisions as well as the order passed by this Court in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X