2001 (1) TMI 904

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....the Respondent : None JUDGMENT 1. The only question which arises at the present stage is as regards the office objection that no petition has been filed by the transferee-company. In the company petition, the petitioner which is a transferor-company is sought to be amalgamated with IDI Ltd., which is the transferee-company. The transferee is the holding company of the transferor which is thu....

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....Sharat Hardware Industries (P.) Ltd., In re [1978] 48 Comp. Cas. 23. The learned Single Judge of this Court held as follows : ". . . if a scheme by way of transfer of undertaking does not affect the rights of the members or creditors of the transferee-company, as between themselves and the company, or does not involve a reorganisation of the share capital of the transferee-company, no app....

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....ing to be any change in the capital structure of the transferee-company. . . ." (p. 26) 4. In the present case, having regard to the relevant clauses of the proposed scheme and particularly the provision whereby no new shares are sought to be issued to the members of the transferor-company by the transferee-company, the scheme will not affect the members of the transferee-company. The creditors....