1998 (2) TMI 453

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....onal Director, Northern Region, Department of Company Affairs, Kanpur and Official Liquidator returnable for 5-9-1997 vide order dated 1-8-1997. The Court also directed the publication of the notice in the newspapers and Govern-ment Gazette. 3. As per the facts averred in the petition, Abhishek Industrial Corpn. Ltd. is a company incorporated under the Act, (as transferor-company) with a nominal capital of Rs. 5 crores divided into Rs. 50 lakhs equity shares of Rs. 10 each and having paid up capital of equity share to the extent of Rs. 4,28,51,840. This transferor-company under the scheme of amalgam- ation is to be merged into Trident Info-Tech Corpn. Ltd. which is also incorporated under the Act with the same nominal capital of Rs. 5 cr....

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.... the companies have been annexed on record as P/1. The scheme of arrangement/amalgamation has been annexed to the petition as Annexure P/2. The result of the Board meeting of the companies held on 21-5-1997 has been placed on record alongwith the petition. 4. Upon notice, Mr. S.B. Mathur, Regional Director Northern Region, Department of Company Affairs Ministry of Finance, New Delhi has filed an affidavit dated 24-9-1997, where he has stated that there was no objection to the scheme being sanctioned by the Court and further that the affairs of the applicant-company had been carried out in a manner which is in the interest of the investors and public interest. 5. The Official Liquidator attached to this Court has also filed a detailed ....

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....by proxy of the creditors of the said company entitled together to Rs. 7,17,17,218 votes in value. The meeting was held in accordance with law and the motion was carried out. The scheme of arrangement was answered 'Yes' as per the report. 7. Similar report was filed by Mr. A.M. Punchhi, advocate, Chairman of the transferee-company and upon holding meetings in accordance with the rules motion was carried out even in that meeting. The copy of public notices issued alongwith copy of the Gazette of Punjab Government dated 13-1-1997 has been placed on record in support of the report. In addition notice to the secured creditors of the companies were sent by post individually. 8. It is clear from the above facts that the scheme of amalgam....