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2016 (2) TMI 133 - RAJASTHAN HIGH COURT

2016 (2) TMI 133 - RAJASTHAN HIGH COURT - TMI - Scheme of amalgamation - Having examined the Scheme of Amalgamation, this Court finds nothing prejudicial to the interest of creditors, members of both the Transferor and Transferee Company or to public interest. All required procedures had been followed. - S.B. COMPANY PETITION NO.9/2015 - Dated:- 18-9-2015 - MR. ALOK SHARMA, J. For The Petitoner : Mr. Anuroop Singhi For The O.L. : Ms. Sonal Singh For The Official Liquidator : Mr. R.K. Meena. Mr. .....

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reditors. The facts in brief are that the petitioner-second transferor company was incorporated on 11.07.2003 at its registered office at Jaipur. In the Board meeting held on 12.02.2015 the scheme of amalgamation of the petitionercompany with transferee company-Tanti Holdings Pvt. Ltd. was approved, the objects and benefits of which were primarily to have efficient and effective management of the businesses, to make use of same management control leading to better coordination of the present act .....

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tor, North Western Region, Ministry of Corporate Affairs, Ahemdabad and the Official Liquidator attached to this Court with further directions to publish the same in two daily newspapers i.e. Rajasthan Patrika, Jaipur Edition and Financial Express, Delhi Edition. This was so done on 19.06.2015, copies of which have been filed before this Court. Despite that none has appeared to object the scheme. An affidavit of the Regional Director has been filed on 21.09.2015. Nothing substantial has been sta .....

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concluded that the affairs of the petitioner transferor company have not been conducted in a manner prejudicial in the interest of its members, creditors and public at large and the Official Liquidator has no objection against the sanctioning of the scheme. Heard and considered the submissions made by the counsel for the petitioner, the Regional Director, Ministry of Corporate Affairs as well as the Official Liquidator and examined the material placed on record. The scope of the Company Court s .....

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