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TMI Blog2015 (5) TMI 128X X X X Extracts X X X X X X X X Extracts X X X X ..... ections 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 Amalgamation of Sharp Capital Priva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ital of the company is Rs. 9,02,000/- divided into 90,200 equity shares of Rs. 10/- each 6. The present authorized share capital of the transferee company is Rs. 1,00,00,000/- divided into 10,00,000 equity shares of Rs. 10/- each. The issued, subscribed and paid-up share capital of the company is Rs. 10,00,000/- divided into 1,00,000 equity shares of Rs. 10/- each. 7. Copies of the Memorandum an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e efficiency by pooling of resources and their optimum utilization, thereby availing synergies from combined resources. 9. 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 company in the following ratio: "01 equity share o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iven 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 creditor of the transferor company to consider and, if thought fit, approve, with or without modification, the pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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