TMI Blog2013 (5) TMI 992X X X X Extracts X X X X X X X X Extracts X X X X ..... s on behalf of the Regional Director, Ministry of Corporate Affairs, Noida. The petitioner company has applied under Section 391/394 and Section 100 of the Companies Act, 1956 for sanction of the scheme of arrangement and for reducing the share capital of the company. The scheme of arrangement has been filed as annexure 7 to the petition. It provides for amalgamation of companies no. 2 and 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2012 passed in company application no. 17 of 2012 dispensed with the meeting of the secured and unsecured creditors as the Court was satisfied that the petitioner company had no creditors at all. However, the meeting of the share holders was directed to be convened and a Chairman was appointed. Accordingly, meeting of the shareholders of the company was held on 27th January 2013 at Kanpur. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppearance on behalf of any person so as to oppose the petition. No objection has been received from any quarter opposing the aforesaid scheme of arrangement. Sri Kunal Ravi Singh, learned counsel for the petitioner company also makes a statement that the company has also not received any kind of objection from any person through out the territory of India with regard to the aforesaid scheme of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es to realize the dues. The scheme of arrangement is otherwise not found to be against the interest of the public or the nation. The Board of Directors of the petitioner company as well as companies no. 2 and 3 have separately passed resolutions on 22.11.2013 accepting the above scheme of arrangement. Section 100 of the Act requires a special resolution of the company for the purposes of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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