GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (5) TMI 49 - DELHI HIGH COURT

2015 (5) TMI 49 - DELHI HIGH COURT - TMI - Application for Scheme of Amalgamation - Dispensation of meeting of their equity shareholders, secured and unsecured creditors - Held that:- All the equity shareholders of all three transferor companies 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 t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f 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 Scheme of Amalgamation is dispensed with. There is no secured creditor of the transferee company, as on 16th February, 2015. - Scheme of Amalgamation approved. - .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e of Amalgamation of Bali Projects Private Limited (hereinafter referred to as the transferor company no. 1); Decowel Housing Private Limited (hereinafter referred to as the transferor company no. 2); and Himal Projects & Investments Private Limited (hereinafter referred to as the transferor company no. 3) with Ramesh Aggarwal & Associates Private Limited (hereinafter referred to as the transferee company). 2. The registered offices of the transferor and transferee companies are situated .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

h 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 96,0 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of ₹ 100/- each. The present issued, subscribed and paid-up share capital of the company is ₹ 68,82,000/- divided into 68,820 equity shares of ₹ 100/- each fully paid up. 10. The present authorized share capital of the transferee company is ₹ 3,00,00,000/- divided into 30,00,000 equity shares of ₹ 10/- each. The present issued, subscribed and paid-up share capital of the company is ₹ 3,00,00,000/- divided into 30,00,000 equity shares of ₹ 10/- each fully .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ed by the applicants that the shareholders of the transferor 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 exc .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

aid up, for every 02 equity shares of ₹ 10/- each fully paid up held in the transferor company no. 2. 07 equity shares of ₹ 10/- each of the transferee company, credited as fully paid up, for every 01 equity share of ₹ 100/- each fully paid up held in the transferor company no. 3. 14. It has been submitted by the applicants that no proceedings under Sections 235 to 251 of the Companies Act, 1956 are pending against the applicant companies. 15. The Board of Directors of the tran .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ions 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. 1 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. 1, as on 16th February, 2015. 17. The transferor company no. 2 has 04 equity shareholders. All the equity s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version