TMI Blog2011 (12) TMI 683X X X X Extracts X X X X X X X X Extracts X X X X ..... t Sethi i/b M/s. Hemant Sethi Co., Advocate for the Petitioner Mrs. R.N. Sutar Asst. Official Liquidator, Ms. Jyotsna Pandhi i/b Mr. H.P Chaturvedi for Regional Director ORDER 1. Heard learned counsels for the parties. 2. The sanction of the Court is sought under Sections 391 to 394 of the Companies Act, 1956, to a Scheme of Amalgamation of Essel Business Processes Limited, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and public. 5. The Counsel appearing for the Regional Director has drawn my attention to paragraphs 6(a) and 6(b) of the Affidavit of the Regional Director in which it is stated that: (a) Clause 5.6 of the scheme states that Transferee Company shall take necessary steps to increase or alter or re-classify, if necessary, its authorised share capital suitably to enable it to issue and allot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dividend by the Transferee Company in future. 6. As far as the query raised by the Regional Director in paragraph 6(a) of his Affidavit is concerned, the Transferee Company through its Counsel undertakes that it would comply with the provisions of Section 94/97 read with Schedule X of the Companies Act, 1956 in respect of filling of necessary forms with the Registrar of Companies after payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of law and is not contrary to public policy. None of the parties concerned has come forward to oppose the Scheme. 10. Since all the requisite statutory compliances have been fulfilled, Company Scheme Petition No.604 of 2011 filed by the Transferor Company is made absolute in terms of prayer clauses (a) to (d) and Company Scheme Petition No.605 of 2011 filed by the Transferee Company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Petitioner in Company Scheme Petition No.604 of 2011 to pay cost of ₹ 10,000/- to the Official Liquidator, High Court, Bombay. Costs to be paid within four weeks from today. 14. Filing and issuance of the drawn up order is dispensed with. 15. All concerned authorities to act on a copy of this order along with Scheme duly authenticated by the Company Registrar, High Court, (O. S.), B ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
