9911796707
TMI Blog2008 (3) TMI 488X X X X Extracts X X X X X X X X Extracts X X X X ..... e-company on the terms and conditions as stated in the scheme of amalgamation and whereby all the assets and liabilities of the transferor-company would be transferred to the transferee-company on the terms and conditions, as stated in the scheme of amalgamation. I have heard Mr. Sandeep Singhi, learned advocate appearing for the petitioner. I have considered the contents of the petition and the totality reflected from the annexures annexed with the petition. 2. Earlier, by order dated 26-12-2007, in Company Application No. 572 of 2007 preferred by the petitioner-company, i.e., the transferor-company for sanctioning the scheme of amalgamation, this Court had dispensed with the meetings of equity shareholders and unsecured creditors for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the audited balance-sheet as on 31-3-2007, as well as provisional balance-sheet as on 29-2-2008. Mr. Rawal has also submitted that except this, there is no other objection, raised by the Deputy Registrar, Registrar of Companies and the only objection raised is taken care of by furnishing the provisional balance-sheet as on 29-2-2008. The Court is, therefore, of the view that the observations made in the affidavit of the Deputy Registrar of Companies are already taken care of. 5. The Official Liquidator has placed his report dated 26-3-2008. His report is based on the report submitted by M/s. Dhirajlal Shah & Co., Chartered Accountants. The said chartered accountant has observed in his report as under : "Stamp duty payable on issue and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Even otherwise, from material point of view also, the amount involved was Rs. 9,800 only which has also been, in fact, paid by the company on 21-3-2008. The Official Liquidator has, therefore, observed in his report that the objection raised by the chartered accountant was properly taken care of and it was not adverse to the proposed scheme of amalgamation. In this view of the matter, the Official Liquidator has submitted that the affairs of the petitioner-company have not been conducted in a manner prejudicial to the interests of its members or public. 7. In view of the above, the Court is of the view that there are no grounds or circumstances which require this Court to refuse approval to the scheme of amalgamation. On going through t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
