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2007 (11) TMI 412 - HC - Companies LawCompromise and arrangement - order of the learned Company Judge sanctioning a Scheme of Amalgamation challenged raising an objection to clause 13.2 of the Scheme, which provides that the filing fee already paid by the Transferor Company on its Authorised Share Capital shall be deemed to have been so paid by the Transferee Company on the combined Authorised Share Capital Held that:- The issue is not whether the fee, which is already paid by the Transferor Company would automatically be transferred to the Transferee Company. But, what is intended by section 391 of the Act is to reconstitute the Company without the Company being required to make a number of Applications under the Companies Act for various alterations which may be required in its memorandum and articles of association for functioning as a reconstituted Company under the scheme. Not only is section 391 of the Act is a complete code in itself, but it is intended to be in the nature of a "single window clearance". Appeal dismissed.
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