2004 (7) TMI 369

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....rthern Region, Department of Company Affairs, Ministry of Finance, Kanpur has submitted an affidavit stating therein that the Central Government has no objection to the sanction of the proposed scheme of amalgamation and the case may be decided by the Court on merits. 3. The Official Liquidator submitted his report in the matter on 11-9-2002. In the report he has raised two fold objections against the sanction of scheme of amalgamation of the transferor companies in the transferee company. The first objection is regarding the fractional shares to be payable to the shareholders in addition to the proposed exchange ratio in respect of Transferor Companies and the second objection is that there is no formal prayer made in the petition for d....

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....ree company, be dissolved without winding up. 8. Thus all these objections raised in the matter either by the Official Liquidator in his report or the Court, stand cured. 9. The object and purpose to obtain sanction of the Court of proposed scheme of amalgamation of the transferor companies in the transferee company has been detailed in para No. 4 of the petition. 10. The transferee company and transferor companies moved separate applications for direction to convene a meeting of equity shareholders and creditors, under section 391 of the Companies Act, 1956 before this Court on 17-10-2002. On the said applications the Court pleased to order for holding the meetings of the equity shareholders and creditors of respective companies o....

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....d, subscribed and paid up capital of the transferee company are given in para No. 2 of the petition. 14. The details of incorporation of Transferor Company, Bhutoria Agricultural Farms Private Limited, its share capital, issued, subscribed and paid up capital has been given in para No. 4 of the petition. 15. The details of incorporation of Transferor Company, Nirmal Dairy Private Limited, its share capital, issued, subscribed and paid up capital has been given in para No. 5 of the petition. 16. The details of incorporation of Transferor company, Bhutoria Stamping Private Limited, its share capital, issued, subscribed and paid up capital has been given in para No. 5 of the petition. 17. The objects of the transferee company set o....