9911796707
TMI Blog2011 (12) TMI 683X X X X Extracts X X X X X X X X Extracts X X X X ..... r>Corporate Laws X X X X Extracts X X X X X X X X Extracts X X X X ..... prejudicial to the interest of shareholders 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utilised for the purpose of declaring 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble and is not violative of any 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 fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rn Region, Mumbai and the 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, Hig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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