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2012 (12) TMI 472 - HC - Companies LawAmalgamation - Application u/s 391 & 394 of Companies Act - Held that:- No proceeding u/s 235 to 251 of the Act is pending against the Applicant Companies as on the date of the present Application - proposed Scheme has been approved by the Board of Directors of Applicant Companies - requirement of convening meetings of Shareholders, Secured Creditors and Un-secured Creditors of the Transferor Companies No.1 to 5 and shareholders of Transferee Company is dispensed with, but no consents have been filed on record on behalf of Secured Creditors and Unsecured Creditors of the Transferee Company - their meetings are directed to be convened and duly held as per co.law - validity of Notices calling meeting, quorum and proxy assured - Chairpersons and Alternate Chairpersons appointed for the meetings will be at liberty to issue suitable directions to the management of the Transferee Company so that the aforesaid meetings are conducted in a just, free and fair manner and to file their reports within two weeks from the date of the aforesaid meetings - as far as the Creditors in respect of all the Transferor companies and Transferee Company are concerned, the Applicant Companies have placed on record the certificates of Chartered Accountants of all the Applicant Companies - Application stands allowed in the aforesaid terms.
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