9911796707
TMI Blog2021 (8) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... R Harish Chander Suri, Member (T) 1. The instant application has been filed in the first stage of the proceedings under Section 230-232 of the Companies Act, 2013 for sanction of the Scheme of Amalgamation of FORWARD LOOKING ADVISORY SERVICES PVT. LTD., OPULENT AGENTS PVT. LTD., RANKINI TRADERS PVT. LTD., SAHAJ RESOURCES PVT. LTD., SHAREWARE FINVIN PRIVATE LIMITED, UDAIPURIA COMMERCIAL PVT. LTD. and UTPAL VINCOM PVT. LTD. (collectively referred as Transferor Companies) with CROCHET TRADE AND INVESTMENT PVT. LTD. (Transferee Company) and their respective shareholders and creditors, whereby and whereunder the Transferor Companies are proposed to be amalgamated with the Transferee Company from the Appointed Date, i.e. 01.04.2020 in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs and Nil Secured Creditors, NIL Unsecured Creditors and Nil Debenture holders. i) Transferee and Transferor Companies have Nil Secured and Unsecured Creditors and Nil Debenture holders. 3. Learned Counsel for the Applicant Companies further submits that the Transferee and Transferor companies are Non Banking Finance Company, registered with RBI, presently engaged in the business of financial activities. 4. The Board of Directors of the Transferee and Transferor Companies respectively have at their Board Meetings, held on 28.12.2020 approved and resolved to carry out the said Scheme of Amalgamation. The copies of the resolution passed by the applicant Companies are annexed with the Application as Annexure A-98 . 5. It is fu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the transferee and transferor companies for the Scheme of Amalgamation are dispensed with. b) In view of the fact that both the Transferee Company and the Transferor Companies have NIL secured Creditors as verified by the Auditor's Certificate, the requirement of convening and holding of separate meetings of the secured creditors for the Scheme of amalgamation are dispensed with. c) In view of the fact that both the Transferee Company and the Transferor Companies have Nil unsecured creditors as verified by the Auditor's Certificate, the requirement of convening and holding of separate meetings of the secured creditors for the Scheme of amalgamation are dispensed with. d) In view of the fact that both the Transferee C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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