9911796707
TMI Blog2022 (5) TMI 209X X X X Extracts X X X X X X X X Extracts X X X X ..... "The Scheme") proposed between the Applicant Companies. In terms of Sections 230 and 232 of the Act, the following prayers have been made for orders:- a. Dispensing with the requirement for convening the meetings of the equity shareholders of the Applicant Nos. 1 and 2 and also to dispense with the requirement of issue and publication of notices for the same. b. Dispensing with the requirement for convening the meeting of unsecured creditors of Applicant No. 2 and also to dispense with the requirement of issue and publication of notices for the same: c. Issuing necessary directions for permitting the filing of application, petition, and other documents as may be required, for the purpose of sanctioning the proposed scheme of amalgama ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is further submitted that the Transferor Company has NIL Secured and 4 Unsecured Creditors, whose consent affidavits have been placed on record (@page 230-243 of the Application. In relation to the shareholders, secured and unsecured creditors, the Transferor Company seeks dispensation from convening and holding of their respective meetings, on the ground that all of them have given their consent affidavits in favour of the Scheme. 6. That in relation to the Transferee Company, it has been represented that the company has 9 Equity Shareholders and consent affidavits from all the shareholders have been obtained constituting 100% in value and 100% in number. The consent affidavits of each of the shareholders have been placed on record (@p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,00,00,000/- divided into 3,00,000 equity shares of Rs. 100/- each fully paid up (@page 14 of the Application). 10. It is seen that the Board of Directors of all the Applicant Companies vide meetings held on 19.01.2022 have unanimously approved the proposed Scheme of Amalgamation. Copies of such resolutions passed have been placed on record (@page 198-201 of the Application). 11. That the Applicant Companies have filed the Audited Financial Statements for the financial year ended 31st March, 2021 (@page 59-106 and 138-163 of the Application). 12. That the Certificate of respective statutory auditors of the Applicant Companies have been placed on record confirming that the accounting treatment in the scheme is in conformity with Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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