TMI Blog2015 (12) TMI 1715X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Judges' Summons, that GPSIN – the Transferor Company, is a wholly owned subsidiary of the GPIN the Transferee Company, and the rights and interests of the creditors of the applicant Transferee Company shall not be affected in any manner as a result of the proposed Scheme. The proposed Scheme does not envisage any arrangement or compromise with the creditors of the Transferee Company. The app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, in the nature of Amalgamation of GEA Pharma Systems (India) Private Limited (GPSIN) ( the Transferor Company ) merger with GEA Process Engineering (India) Private Limited (GPIN) ( the Transferee Company ) the applicant Company is proposed under Sections391 to 394, read with Sections100 to 103 of the Companies Act, 1956 ( the Act , for short). 2. In this regard, the present application is fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany be dispensed with for the purpose of considering and if thought fit, approving with or without modification(s), the proposed Scheme of Amalgamation of GEA Pharma Systems (India) Private Limited (GPSIN) ( the Transferor Company ) merger with GEA Process Engineering (India) Private Limited (GPIN) ( the Transferee Company ) the applicant Company may be dispensed with. (c) That leave may be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anies will not be adversely affected but will, in fact, be placed in a better position visavis their security, postPage amalgamation. The copy of the certificate of the Chartered Accountant in this regard is annexed as AnnexureE. 4. Considering the above facts and circumstances and the submissions advanced by the learned advocate for the petitioner, and looking to the consent letters produced a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the Transferor Company with the applicant Company. The Transferee Company will fulfill all its liabilities towards its creditors in the normal course of business. The attention of the Court is drawn to the Certificate dated 30.11.2015 issued by the Chartered Accountant (AnnexureE). 6. Considering the above facts and circumstances, it is held that the approval of the Creditors of the Trans ..... X X X X Extracts X X X X X X X X Extracts X X X X
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