9911796707
TMI Blog2012 (3) TMI 727X X X X Extracts X X X X X X X X Extracts X X X X ..... aneri. ORAL ORDER 1. These common Company Petitions are filed by the petitioner companies for sanctioning the scheme of amalgamation of Facet Polishing Works Private Limited (Transferor Company) with Tirupati Organizers Private Limited (Transferee Company) whereby, all the assets and liabilities of the Transferor Company (as defined in the scheme) would be transferred to transferee company on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany Affairs. The notice was also issued to the Official Liquidator. The notices were also ordered to be published in Indian Express , English Daily and Jansatta Gujarati Daily, both in Surat Editions respectively. Pursuant to the same, notices for hearing of petitions were published on 04.05.2011 in the said newspapers. An affidavit dated 07.06.2011 about service and publication of notices for he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in lieu thereof to a Director or an authorised officer of the company with the express understanding that such Director or the officer shall sell the same at the best available price in one or more lots by private sale/placement or by auction as deemed fit and pay the sale proceeds to the transferee company. The company thereupon, shall distribute the net sale proceeds among its members in propo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counts and affairs of the company have submitted their report and on the basis of information and explanation given to them and the books of accounts produced before them, they are of the opinion that the affairs of the company have not been conducted in a manner prejudicial to the interest of its members or to the public interest. The report of the Official Liquidator dated 13.09.2011 is on recor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rnment Standing counsel is concerned, I quantify the same at Rs. 7500/- per petition. The same may be paid to the learned counsel appearing for the Central Government. The cost of office of the Official Liquidator is quantified at Rs. 7500/- in respect of the transferor company which may be paid to the office of the Official Liquidator towards the cost of the petitions. 11. The fees of Mr. Y.V. Va ..... X X X X Extracts X X X X X X X X Extracts X X X X
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