Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2016 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (4) TMI 1240 - HC - Companies LawDispensation of convening of meeting of shareholders, secured and unsecured creditors of the applicant company - Scheme of amalgamation - Held that:- The Board of Directors of the applicant-company in its meeting held on 08.09.2015 has resolved, approved and adopted the Scheme of Amalgamation of the applicant company with the transferee company subject to confirmation by this Court. Said resolution is at Annexure-C and it would indicate that Board of Directors of the applicant-company have approved the scheme of amalgamation-Annexure-G. The applicant company is a wholly owned subsidiary of the transferee company and therefore the transferee company has not filed any application before this Hon’ble Court. Chartered Accountant of the applicant-company has also certified that as on 31.01.2016 there are no secured creditors and unsecured creditors as per certificate- Annexure-K. The applicant – company has disclosed all the relevant material in the application and there is no impediment in law to grant the prayer sought for in the application. Hence, this court is of the considered view that prayer sought for deserves to be granted. Hence, following order is passed: Company Application is hereby allowed. Convening of meeting of shareholders, secured and unsecured creditors is dispensed with.
|