9911796707
TMI Blog2008 (4) TMI 507X X X X Extracts X X X X X X X X Extracts X X X X ..... 8-7-1999 as a Public Limited Company under the provisions of the Companies Act, 1956 vide certificate of incorporation No. 55-100870 of 1999-2000 issued by the Registrar of Companies, NCT of Delhi and Haryana. The authorised share capital of the said company is Rs. 30,00,000 divided into 3,00,000 equity share of Rs. 10 each. The issued, subscribed and paid up capital of the transferor company is Rs. 29,08,750 divided into 2,90,875 equity shares of Rs. 10 each fully paid up. 2A. The registered office of the Transferor Company is situated at 1105, Ashoka Estate, 24, Barakhamba Road, New Delhi-110001 within the jurisdiction of this Court. The registered office of the Transferee Companies is situated at Nos. 8020293/A/1024 & 1024/A, Road No. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs 'The Statesman' (English edition) and 'Jansata' (Hindi edition) in terms of Companies (Court) Rules, 1959. An affidavit dated 1-3-2006 has been filed stating that the publication as directed was effected on 22-2-2006. The paper cuttings containing the publication of the said citations were also filed along with the affidavit. 7. In response to notices issued to the Official Liquidator and to the Regional Director (Northern Region), they have filed their separate reports in regard to the proposed scheme of amalgamation. These reports along with the response of the transferor company thereto have been perused by me. During arguments, neither the counsel for the Official Liquidator nor the counsel for the ROC has opposed the proposed schem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e year and get the FDR renewed from time to time till the disposal of the civil suit pending before the trial court. In this view of the matter, I am of the considered opinion that no prejudice is likely to be caused to the ex-workman Mr. Rajiv Puri by grant of sanction to the proposed scheme of amalgamation. 8. It appears that the proposed scheme of amalgamation, if accepted, would eliminate the multiple companies engaged in the similar activities as both the transferor company as well as the transferee company are engaged in the similar activities. The proposed scheme will result in reduction of the overhead expenses and also the administrative and procedural work. It will also result in elimination of duplication of work and improve eff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of amalgamation. Consequently, sanction is hereby granted to the proposed scheme of amalgamation under sections 391 and 394 of the Companies Act, 1956 for amalgamation of the transferor company with the transferee company. The certified copy of this order shall be filed with the Registrar of Companies within five weeks. It is clarified that this order should not be construed as an order granting exemption from payment of stamp duty if payable in accordance with law in regard to increase in the share capital of the transferee company. Upon sanction becoming effective and from the appointed date, the transferor company shall stand dissolved without its formal winding up. 11. The transferor company is directed to deposit Rs. 20,000 towards c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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