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2015 (5) TMI 127 - DELHI HIGH COURT

2015 (5) TMI 127 - DELHI HIGH COURT - TMI - Application under Sections 391 and 394 of the Companies Act, 1956 read with Rules 6 & 9 of the Companies (Court) Rules, 1959 - Dispensation of convening the meetings of their equity shareholders, secured and unsecured creditors - Held that:- All the equity shareholders & secured creditor of the transferor company and transferee company have given their consents/no objections in writing to the proposed Scheme of Amalgamation. Their consents/no objection .....

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han Kumar Misra, J. For the Appellant : Mr. Rishi Sood, Sudershan Kumar Misra, J. 1. This joint application has been filed under Sections 391 and 394 of the Companies Act, 1956 read with Rules 6 & 9 of the Companies (Court) Rules, 1959 by the applicant companies seeking directions of this court to dispense with the requirement of convening the meetings of their equity shareholders, secured and unsecured creditors to consider and approve, with or without modification, the proposed Scheme of A .....

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feree company was incorporated under the Companies Act, 1956 on 2nd February, 1996 with the Registrar of Companies, NCT of Delhi & Haryana at New Delhi. 5. The present authorized share capital of the transferor company is ₹ 25,00,000/- divided into 2,50,000 equity shares of ₹ 10/- each. The present issued, subscribed and paid-up share capital of the company is ₹ 10,15,000/- divided into 1,01,500 equity shares of ₹ 10/- each. 6. The present authorized share capital of .....

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auditors, have also been filed. 8. A copy of the Scheme of Amalgamation has been placed on record and the salient features of the Scheme have been incorporated and detailed in the application and the accompanying affidavit. It is claimed that the amalgamation will result in establishment of a larger company with larger resources, a larger capital base and a greater capacity to raise funds for expansion, modernization and development of businesses of the companies concerned. It is further claimed .....

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