TMI Blog2015 (7) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... om the Valuation Report dated 16th August, 2014 furnished by M/s. P. K. Katyal & Co., Chartered Accountants (page 209, Annexure II). Unfortunately, the applicants adopted the same without maintaining a common sequence in the Memo of Parties. Furthermore, the fourth share exchange ratio mentioned in the valuation report has wrongly been stated in the Scheme. Even though the transferor companies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f convening the meetings of their equity shareholders, preference shareholders, secured and unsecured creditors to consider and approve, with or without modification, the proposed Scheme of Amalgamation of M/s. Ganraj Sugars Private Limited (hereinafter referred to as the transferor company no. 1); M/s. Pukhraj Sugars Private Limited (hereinafter referred to as the transferor company no. 2); M/s. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I). Unfortunately, the applicants adopted the same without maintaining a common sequence in the Memo of Parties. Consequently, the second share exchange ratio mentioned for Jivitesh Sugars Private Limited (JSPL) in the valuation report is applicable to the third applicant/transferor company no. 3; the third share exchange ratio mentioned for Ritesh Vyapaar Private Limited (RVPL) in the valuation r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exchange ratio for Parashar Sugars Private Limited (PRSPL), and while stating the said exchange ratio in the Scheme and the application, they have wrongly mentioned that for every 514 fully paid-up equity shares of PRSPL, the shareholders are entitled to receive only 01 fully paid-up equity share of the transferee company. 5. Even though the transferor companies are wholly owned subsidiaries of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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