TMI Blog2011 (3) TMI 1469X X X X Extracts X X X X X X X X Extracts X X X X ..... ved and amalgamated with petitioner. petition seeking sanction of scheme of amalgamation was to be allowed with a direction to petitioner that it would comply with all statutory requirements in accordance with law - COMPANY PETITION NO. 5 OF 2010 - - - Dated:- 28-3-2011 - DEV DARSHAN SUD, J. Suneet Goel for the Petitioner. Sanjeev Kuthiala for the Official Liquidator. Sandeep Sharma for the Regional Director. ORDER 1. This is a second motion petition preferred under sections 391 to 394 of the Companies Act, 1956 read with Rules 79 to 84 and 87 of the Companies (Court) Rules, 1959. 2. The petitioner Company pleads that it has been registered under the provisions of the Companies Act, 1956 (hereinafter refer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which have been filed on record as also the order passed by the Delhi High Court, the prayer made by the petitioner for exemption to hold meeting of secured and unsecured creditors is granted. This petition is accordingly disposed of. Permission is granted to the petitioner herein to approach this Court again for approval of the Scheme of Amalgamation in accordance with law." 3. Petitioner has also filed an order of the Hon'ble Delhi High Court in Nitin Pharmaceuticals (P.) Ltd. v. Nitin Lifesciences Ltd. [Co. Petition No. 80 of 2010, dated 13-1-2011], wherein, in a second motion petition under sections 391 to 394 of the Companies Act, the learned Court, after considering the objections of the Deputy Registrar of Companies who appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stry of Corporate Affairs, pursuant to section 394A of the Act. Official Liquidator has also submitted his reply affidavit wherein it has been stated that the Transferee Company 'Nitin Life Sciences Limited' would continue to exist and there would be no dissolution of the Company consequent to the sanction of the Scheme. In these circumstances, it is only the Transferor Company i.e., 'Nitin Pharmaceuticals Private Limited' which is being dissolved and amalgamated with the petitioner herein. 6. I have considered the record and the Scheme of Amalgamation as also the affidavit filed by the Regional Director. The copy of the judgment passed by the Hon'ble High Court of Delhi in Nitin Pharmaceuticals (P.) Ltd. ( supra ) sanctioning the s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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