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2012 (12) TMI 537 - DELHI HIGH COURTScheme of Amalgamation - Merger - Application u/s 391,394 of Companies Act - Held that:- Representation/reports filed by the Regional Director and the Official Liquidator that no objections of Shareholders and Creditors of the Petitioner Company, received to the proposed Scheme, there appears to be no impediment to grant of sanction to the Scheme - no notice is required to be given to the commission in case of an amalgamation which involves an Holding company and its subsidiaries, which are wholly owned by enterprises belonging to the same group - Sanction is hereby granted to the Scheme u/s 391 and 394 of the Companies Act, 1956 - Petitioner Company will comply with the statutory requirements in accordance with law - Certified copy of the order will be filed with the ROC within 30 days from the date of receipt of the same - Petitioner Company and the property, rights and powers & all the liabilities and duties concerning the same will be transferred to and vest in the Transferee Company without any further act or deed - this order will not be construed as an order granting exemption from payment of stamp duty or taxes or any other charges, if payable in accordance with any law - Petitioner Company would voluntarily deposit a total sum of Rs.1,00,000/- in the Common Pool fund of the Official Liquidator within three weeks from today - Scheme of Amalgamation allowed.
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