2016 (2) TMI 1122

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ; Mr. Rajiv Behl, Advocate for the OL ORDER 1. This is a joint application moved under Section 391 and 394 read with Section 100 to 104 of the Companies Act, 1956 (in short the 1956 Act).   2. The joint application is, in fact the first motion, which has been moved, in connection with the scheme of arrangement which envisages, broadly, the following :- (i). The amalgamation of transfer .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ws :- Company No. of Shareholders Consent Given No. of Unsecured Creditors Consent Given Transferor Company No. 1 3 All 1 All Transferor Company No. 2 3 All 1 All Transferor Company No. 3 2 All 1 All Transferor Company No. 4 2 All 1 All   5.2 In so far as the transferee company is concerned, the position with regard to consent obtained from equity shareholders, the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of shareholders have given their consent. 7.1 In so far as the unsecured creditors are concerned, in terms of value 91.76% have given their consent which, in numbers, works out to 51.97%. 7.2. As regards, secured creditors of the transferee company, all have given their consent. 8. Having regard to the aforesaid, the prayers made in the joint application are allowed. The requirement to convene .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X