9911796707
TMI Blog2007 (8) TMI 457X X X X Extracts X X X X X X X X Extracts X X X X ..... rahim Kalifulla, J. - This Original Side Appeal has been preferred by the Madras Stock Exchange Limited (for short, 'MSE') as against the order of the learned Single Judge dealing with company cases in Company Application No. 576 of 2002 in Company Petition No. 79 of 2001, dated 20-9-2002. 2. The first respondent-transferee-company as part of the Scheme of Amalgamation originally ordered on 20-7- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3. It is in the light of the above stand taken on behalf of the first respondent-transferee-company, the learned Judge directed the appellant-MSE for compliance of clause 4(2) of Scheme of Amalgamation and consequently grant exemption to it from rule 19(2)(b) of the said Rules for the purpose of listing its shares with the appellant-MSE. 4. In the course of the submissions, learned counsel for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance of the said requirement, the relaxation of strict enforcement of rule 19(2)(b) of the Rules would be carried out. 5. After the issuance of the communication dated 31-8-2004 by the fifth respondent-SEBI, the first respondent-transferee-company in its letter dated 21-9-2004 addressed to the appellant-MSE has given an undertaking to the effect that, "Meanwhile, we undertake to conclude the case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... categoric undertaking letters issued by the first respondent-transferee-company, there is no reason as to why the first respondent-transferee-company should not be directed to ensure that the compliance reported by it before the learned Single Judge which persuaded the learned Judge to pass the impugned order, should not be directed to be carried out to its full extent without any deviation, by p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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