Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2016 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (10) TMI 465 - GUJARAT HIGH COURTScheme of Arrangement in the nature of Amalgamation - Held that:- This Court is of the view that the observations made by the Regional Director, Ministry of Corporate Affairs, do not survive. No directions are required to be issued to the Petitioner Companies. This Court is of the view that based on the material on record it can be concluded that the present Scheme of Arrangement in the nature of Amalgamation is in the interest of the Shareholders and Creditors of both the Companies as well as in the public interest, therefore, the same deserves to be sanctioned and the same is hereby sanctioned. The Reduction of Issued, Subscribed and Paid up share capital of the Transferee Company viz. INI Design Studio Private Limited as envisaged under Clauses 5 and 7 of the Scheme is specifically granted. Prayers in terms of Paragraph No. 15(a) of the Company Petition No. 378 of 2016 for the Transferor Company viz. INI Design Services Private Limited and prayers made in terms of Paragraph Nos. 17(a) and 17(b) as well as the Minutes under Section 103(1) of the Companies Act, 1956 in terms of Paragraph 14 of the Company Petition No. 379 of 2016 for the Transferee Company viz. INI Design Studio Limited are hereby granted.
|