9911796707
TMI Blog2015 (8) TMI 1503X X X X Extracts X X X X X X X X Extracts X X X X ..... the advertisement got published by the petitioner in the newspapers, this Court is of the opinion that the proposed scheme of amalgamation is in conformity with the provisions of the Act and the same does not in any manner affect the interests of any of the stake holders including the public. Therefore, the proposed scheme of amalgamation is sanctioned with effect from the appointed date i.e., 01.04.2015, subject to sanction of the scheme of amalgamation in favour of the transferor companies by the Delhi High Court. The petitioner shall cause a certified copy of this order to be delivered to the Registrar of Companies for the State of Telangana and State of Andhra Pradesh, Hyderabad, within 30 days of its receipt and take all other consequ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d into 550 Crores equity shares of ₹ 10/- each; that its issued, subscribed and paid-up share capital, as on 31st March, 2015, is ₹ 20,26,50,850/- divided into 2,02,65,085 equity shares of ₹ 10/- each fully paid-up; that it has two shareholders; that it has no secured creditors; and that it has nine unsecured creditors for the value of ₹ 4646.36 Crores. The petitioner further pleaded that the Transferor Companies are directly and indirectly its wholly owned subsidiary Companies; that all the transferor Companies are engaged in similar business; that through consolidation, the synergies that exist among the entities in terms of similar business processes and resources can be put to the best advantage of the stakehold ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sidering the proposed scheme of amalgamation. This Court by order, dated 15.6.2015, allowed the said Company Application. This Court by order, dated 06.7.2015, ordered notice of this Company Petition to the Regional Director, South Eastern Region, Ministry of Corporate Affairs, Hyderabad. Advertisement was also ordered to be published in two newspapers, viz., 'Business Standard' (English daily) and 'Andhra Bhoomi' (Telugu daily) having circulation in the State of Telangana. In pursuance of the said order, the petitioner carried out publication in the newspapers and filed proof of such publication through memo, dated 29.7.2015, vide USR.No.3374 of 2015, and no objections are stated to have been received. In response to the notice, the Reg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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