9911796707
TMI Blog2008 (10) TMI 354X X X X Extracts X X X X X X X X Extracts X X X X ..... he Companies Act, 1956. 2. Vide the respective orders dated 1-4-2008, passed in Company Application Nos. 237 and 238 of 2008, meetings of the equity shareholders, secured creditors and unsecured creditors were dispensed with in case of two transferor companies in view of the written consent letters placed on record. Similarly, vide said order passed in Company Application No. 239 of 2008, the meetings of the equity shareholders and unsecured creditors were dispensed with in view of the written consent letters placed on record. There were no secured creditors of the said transferor-company on the date of filing the application. Similarly, vide said order passed for the transferee-company in Company Application No. 240 of 2008, meeting of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on and the suit, an agreement to sell dated 18-6-2007 and deed of assignment dated 7-8-2007, were executed in respect of the said property in favour of M/s. Shree Kapil Yarn Ltd., one of the transferor companies. He, therefore, moved necessary application for amendment in Company Petition No. 14 of 2006. He has also raised his objection in reply to the public notice by giving a public notice in the newspaper, putting to the notice of the public at large about his objection against the sale of the property in question. He has further stated in the said affidavit that Shree Kapil Yarn Ltd., is claiming to have purchased the said property by virtue of the deed of assignment dated 7-8-2007. By virtue of the present petition for sanctioning the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said property. A public notice was given in the local newspaper on 17-5-2007, inviting objections to the purchase of the said property, but no one including the objector had produced any document to indicate any orders of injunction against such transfer of property. The petitioner was provided the copy of the minutes of meeting of the board of directors dated 16-7-2007, signed by all the eight directors of the company giving consent to sell the property. The petitioner also obtained necessary permission from GIDC for transfer of such property, which is presumed to have been issued after proper verification. The said transfer of property, by deed of assignment is duly registered with the office of the Sub-Registrar. It is, therefore, submit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... only observation pertains to the latest financial reports of the petitioner-companies. The said issue is dealt with by the additional affidavits dated 25-9-2008, filed by the director and authorised signatory of the transferee company. The provisional balance-sheets of all the companies as on 31-3-2008, have been placed on record. 9. Having heard Ms. Vaibhavi Parikh for Smt. Swati Soparkar, learned advocate appearing for the petitioner-companies and Shri Iqbal Shaikh, learned standing counsel appearing for the Central Government and, having gone through the petitions and being satisfied that the amalgam- ation would be in the interest of the companies and their members and creditors, prayers in terms of paragraph 15(a) of the respective pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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