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2012 (12) TMI 555 - HC - Companies LawScheme of Amalgamation - Held that:- In view of the approval accorded by the Shareholders and Creditors of the Petitioner Companies, representation/reports filed by the Regional Director, Northern Region and the Official Liquidator, attached with this Court to the proposed Scheme of Amalgamation, there appears to be no impediment to the grant of sanction to the Scheme of Amalgamation. Sanction is hereby granted to the Scheme of Amalgamation under sections 391 and 394 of the Companies Act, 1956. The Petitioner Companies will comply with the statutory requirements in accordance with law. Certified copy of the order be filed with the Registrar of Companies within 30 days from the date of receipt of the same. The whole or part of the undertaking, the property, rights and powers and also all the liabilities and duties of the Transferor Company No. 1 to 2 be transferred to and vest in the Transferee Company without any further act or deed - Upon the Scheme coming into effect, the Transferor Companies shall stand dissolved without winding up. Order of amalgamation 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 Companies would voluntarily deposit a sum of Rs. One lac in the Common Pool fund of the Official Liquidator within three weeks from today - Petition is allowed.
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