TMI Blog2016 (2) TMI 1116X X X X Extracts X X X X X X X X Extracts X X X X ..... .1 of the scheme, in particular, clause 4.1.1, upon the scheme becoming effective, no shares in the transferee company will be allotted in lieu of shares held by it and its nominee in the transferor company. The entire share capital of the transferor company shall stand cancelled and be extinguished without any further act or deed. As also told by the counsel for the transferor company that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reafter referred to as the transferee company). A copy of the scheme is enclosed with the application. 1.1 The registered office of the transferor company as also the transferee company are located in Delhi and, therefore, within the territorial jurisdiction of this Court. 2. The details with respect to incorporation and authorized, issued, subscribed and paid-up capital of the transfero ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. of Equity Shareholders Consent given No. of Unsecured Creditors Consent given Transferor Company 2 ALL 1 ALL 6. A prayer has been made to dispense with the requirement of convening the meetings of the shareholders and the unsecured creditors o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company is a wholly owned subsidiary company of the transferee company, I am inclined to agree with the prayer made in this behalf by the transferor company. As per clause 4.1 of the scheme, in particular, clause 4.1.1, upon the scheme becoming effective, no shares in the transferee company will be allotted in lieu of shares held by it and its nominee in the transferor company. The entire share ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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