9911796707
TMI Blog2015 (12) TMI 1730X X X X Extracts X X X X X X X X Extracts X X X X ..... ited with Torrent Pharmaceuticals Limited, the Transferee Company is proposed under Sections 391 to 394 of the Companies Act, 1956. 2. In this regard, the present application is filed by Torrent Pharmaceuticals Limited, the applicant Transferee Company. In the Judges' Summons taken out on 9th December, 2015, it has prayed for the dispensation of separate proceedings for the applicant Company. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e said Transferee Company is not necessary. This issue is settled by this Court by judgment dated 06.07.2015, passed in Company Application No.194 of 2015, in the case of Apar Industries Limited. 5. It is further submitted that the aforesaid submission is also supported by the judgments of various High Courts. It is submitted that this view is consistently taken vide the series of judgments inter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... public limited Company, pursuant to Clause 24(f) of the Listing Agreement, the applicant Company has obtained the requisite approval from the concerned stock exchanges viz. BSE Limited and National Stock Exchange of India Limited. A copy of each of them have been placed on record as Exhibit 'E'. However, in light of the fact that no shares are being issued by the said Company pursuant to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Net worth of the applicant Transferee Company as on 30th June, 2015, prior to giving effect to the proposed Scheme was Rs. 3426 Crores; whereas in the Post Scheme scenario it shall be approximately Rs. 3443 Crores. In view of the same, the rights and interests of the creditors of the Transferee Company shall not be prejudicially affected and the Scheme does not envisage any arrangement with the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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