TMI Blog2015 (5) TMI 49X X X X Extracts X X X X X X X X Extracts X X X X ..... fit, approve, with or without modification, the proposed Scheme of Amalgamation is dispensed with. There is no secured or unsecured creditor of the transferor companies, as on 16th February, 2015. The transferee company has 11 equity shareholders and 07 unsecured creditors. All the equity shareholders and all the unsecured creditors have given their consents/no objections in writing to the proposed Scheme of Amalgamation. Their consents/no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meetings of the equity shareholders and unsecured creditors of the transferee company to consider and, if thought fit, approve, with or without modification, the proposed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 000 with the Registrar of Companies, NCT of Delhi Haryana at New Delhi. 5. The transferor company no. 3 was incorporated under the Companies Act, 1956 on 2nd August, 1995 with the Registrar of Companies, NCT of Delhi Haryana at New Delhi. 6. The transferee company was incorporated under the Companies Act, 1956 on 5th March, 1992 with the Registrar of Companies, NCT of Delhi Haryana at New Delhi. 7. The present authorized share capital of the transferor company no.1 is ₹ 15,00,000/- divided into 1,50,000 equity shares of ₹ 10/- each. The present issued, subscribed and paid-up share capital of the company is ₹ 9,60,000/- divided into 96,000 equity shares of ₹ 10/- each fully paid up. 8. The present ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... feror and transferee companies are almost common. It is claimed that the Scheme will result in pooling of their financial, commercial and other resources, economies of scales and reduction of overheads. It is further claimed that with enhanced capabilities and resources at its disposal, the transferee company will have greater flexibility and strength to meet requirements for further growth of business activities. 13. So far as the share exchange ratio is concerned, the Scheme provides that, upon coming into effect of this Scheme, the transferee company shall issue and allot equity shares to the shareholders of the transferor companies in the following ratio:- 01 equity share of ₹ 10/- each of the transferee company, credited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osed Scheme of Amalgamation is dispensed with. There is no secured or unsecured creditor of the transferor company no. 1, as on 16th February, 2015. 17. The transferor company no. 2 has 04 equity shareholders. All the equity shareholders have given their consents/no objections in writing to the proposed Scheme of Amalgamation. Their consents/no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meeting of the equity shareholders of the transferor company no. 2 to consider and, if thought fit, approve, with or without modification, the proposed Scheme of Amalgamation is dispensed with. There is no secured or unsecured creditor of the transferor company no. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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