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2013 (10) TMI 1198 - DELHI HIGH COURTSanction of scheme of amalgamation - Dispensation from the requirement of convening the meetings of the equity shareholders, secured and the unsecured creditors of the Applicant companies - Held that:- net worth certificate dated 28th May 2013 issued by Sunita Maheshwari and Co., Chartered Accountants. The certificate shows that the pre- amalgamation net worth of the Transferor company is Rs.1,71,81,593/- and the pre and post amalgamation net worth of the Transferee company is Rs.209,09,81,096/- and will be Rs.509,92,22,034/- respectively. Further, post-amalgamation, the value of debt (secured and unsecured creditors) of the Transferee company is Rs.930,04,69,599/- against the value of the assets of Rs.1536,14,90,021/- (at their respective fair values), therefore, the interests of the creditors of either of the Applicant companies will not be adversely affected and in fact will be placed in a better position viz. a viz. their security post amalgamation - Application allowed.
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