TMI Blog2010 (7) TMI 267X X X X Extracts X X X X X X X X Extracts X X X X ..... opy of this order with the Registrar of Companies, Karnataka and Registrar of Companies, Bombay within thirty days from the date of receipt of copy of this order. - COP NO. 03 OF 2010 - - - Dated:- 8-7-2010 - H.N. NAGAMOHAN DAS. J. A. Murali for the Petitioner. Muthkur NA. Manohar for the Respondent. ORDER 1. This petition is filed under sections 391 to 394 of the Companies Act, 1956 (for short the Act ) by the petitioner - Dusters Hospitality Services Private Limited - Transferee-Company seeking sanction of scheme of arrangement produced at Annexure A to the petition by which the company M/s. Total Solutions Facility Management Private Limited - the transferor/demerged company is proposed to be merged with the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant company to hold the meetings of the secured creditors and unsecured creditors. Accordingly, the Chairman appointed by this court has filed the result of the meetings in the form of report stating that both secured and unsecured creditors have approved the scheme unanimously. 6. Thereafter, the present petition has been filed and this court directed to issue notice to the Regional Director and directed the petitioner to take out advertisement of the petition in The Hindu and Kannada Prabha on or before 10-2-2010 fixing the date of hearing as 3-3-2010. Accordingly, the petitioner has furnished the copy of the The Hindu and Kannada Prabha both dated 5-2-2010 along with a memo dated 19-3-2010. Pursuant to the notice i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ree-company shall not be less favourable than those applicable to them with reference to the FMS undertaking of transferor/demerged company on the effective date. 9. Pursuant to the advertisement of the petition, no shareholders, creditors and employees of the transferee-company have appeared and objected the proposed scheme of arrangement. 10. Heard learned counsel for the petitioner and learned Central Government Standing Counsel and perused the entire papers. 11. In the circumstances, the petitioner has made out a case for sanction of scheme of arrangement at Annexure A. Hence, the following : ORDER ( i )The company petition is allowed. ( ii )The scheme of arrangement at Annexure A to the petition is hereby sanctioned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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