2012 (8) TMI 1119

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..... sferee Company), which is proposed to be amalgamated with its wholly owned subsidiary Company - Global Gourmet Private Limited (the Transferor Company), with a prayer for appropriate orders seeking dispensation of meetings of the Secured and Unsecured Creditors under the provisions of Section 391(2) of the Companies Act, 1956. 2. It is stated that the applicant - Transferee Company - Jindal Agro .....

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..... nner. 4. Heard Mr.Bharat T.Rao, learned advocate for the applicant. The learned advocate for the applicant has placed reliance upon the following judgments: (i) Sharat Hardware Industries Private Limited 48 Company Cases 23 (Delhi) (ii) Mahaamba Investments Ltd. v. IDI Limited 105 Company Cases 16 (Bombay) (iii)Company Application No.43/2004 (Banyan Chemicals Ltd.) decided on 19.02.2004 (iv) .....

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..... d hereinabove, holding that separate proceedings are not necessary for the Transferee Company, being the Holding Company, it is held that the applicantCompany, the Holding Transferee Company, is not required to take out separate proceedings under Section 391(2) of the Companies Act, 1956, to the proposed Scheme of Amalgamation of its wholly owned subsidiary with itself. Hence, the proceedings as r .....

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