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2012 (12) TMI 801 - DELHI HIGH COURTScheme of Amalgamation - Held that:- The requirement of convening meetings of Shareholders & un-secured creditors in view of the written consents/NOC given by all the Shareholders of the Transferor Company and the Transferee Company are dispensed with - Report of Official Liquidator stating that he has not received any complaint against the proposed Scheme from any person/party interested in the Scheme in any manner and that the affairs of the Transferor Company do not appear to have been conducted in a manner prejudicial to the interest of its members, creditors or to public interest. Application for compounding of the contravention of provisions of FEMA forwarded and the Compounding Authority of the Reserve Bank of India was pleased to compound the contraventions in accordance with the Foreign Exchange (Compounding Proceeding) Rules 2000. No objection has been received to the Scheme of Amalgamation from any other party there appears to be no impediment to the grant of sanction to the Scheme of Amalgamation - The petitioner companies will comply with the statutory requirements in accordance with law with filing certified copy of the formal order with the ROC within 30 days - the whole or part of the undertaking, the property, rights and powers with all the liabilities and duties of the Transferor Company 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 any other charges - Petitioner Companies would voluntarily deposit a sum of Rs. 1 Lac in the Common Pool fund of the Official Liquidator within three weeks from today.
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