2013 (4) TMI 977

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..... f the Companies Act, 1956 in the matter of a Composite Scheme of Arrangement in the nature of de-merger and transfer of the Aviation Undertaking of the Applicant De-merged Company to Shreno Limited, the Resulting Company and Restructure of the Share Capital of the Applicant Company. I have heard Smt. Swati Soparkar, learned Advocate for the applicant Company and have considered the affidavit dated .....

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..... ;E' to the application. It has been further pointed out that there are no Secured Creditors of the Applicant Company and all the Unsecured Creditors have given their approval to the scheme. The said consent letters are placed on record as Annex. 'F' to the application. The certificates from a Chartered Accountant confirming the status of the Equity Shareholders, Preference Shareholders .....

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..... r under Section 102 of the Companies Act confirming the reduction. The written consents given by the Equity Shareholders of the Applicant Company approving the scheme, shall be treated as the approval by the Special Resolution as required under Sec. 100 of the Companies Act, 1956. In view of this, considering the said submission, the procedure prescribed under Section 100 and 101(2) of the Compani .....

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