2008 (5) TMI 426

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....k Diwan, learned counsel for the applicants-petitioners. 2. This is a petition under sections 391 and 394 of the Companies Act, 1956, seeking sanction to the Scheme of Arrangement between Cheema Papers Limited (Transferor-Company) and Cheema Paper Mills Private Limited (Transferee-Company). 3. The registered offices of both the transferor and the transferee Company are situated at 2 Km. Bazp....

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....es had filed a joint Company Application No. 1 of 2000, which was allowed by the Court by the order dated 21-2-2008, thereby the requirement of conducting meetings of equity shareholders of both the transferor and the transferee-companies were dispensed with. However, the Court directed the meeting of creditors of value of Rs. 50,000 or more of the Cheema Papers Limited, the transferor-company be ....

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.... Daily Edition) and Amar Ujala (Hindi Daily Edition), in terms of the Company Court Rules, 1959. An affidavit has been filed by Mr. N.P. Singh Chawla, Advocate for the petitioner companies about the publication of the citations in "The Times of India (English Daily) and Amar Ujala (Hindi Daily) on dated 3-5-2008. The said publications containing the citations have also been produced along with the....

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....re Capital of Cheema Papers Limited, the transferor-company is wrongly mentioned in para 24(a) of the Scheme of Arrangement due to a typographical error. The post Demerger Authorised Share Capital of Cheema Papers Limited, the transferor-company should have been indicated as Rs. 7,32,13,750 instead of Rs. 7,03,20,000 shown in para 24(a) of the Scheme. The same, in accordance with this order, now s....