2007 (8) TMI 464

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....ctions 391(1) and 393 of the Companies Act, 1956 for Amalgamation/Merger of the Taudan Auto Components Private Limited and Taurus Esdan Hydrulics Pvt. Ltd. into to the Indo-Australian Hose Manufacturing Pvt. Ltd. 3. A scheme of amalgamation has been set out in paragraph 31 at page 35 of the petition. A joint meeting of the shareholders of all the companies was held and report was submitted. The notices were sent to the Regional Director, Eastern Region, Ministry of Company Affairs, Kolkata, Registrar of Companies, Bihar, Patna/Jharkhand and the Official Liquidator, who have got no objection to approval of the same. 4. Considering the report of the Regional Director, Eastern Region, Ministry of Company Affairs, Kolkata, the order in te....

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....l be effective from 1-4-2007. That the parties to the compromise or arrangement or other persons interested shall be at liberty to apply to this Court for any directions that may be necessary in regard to the working of the compromise or arrangement, and that the said companies will file affidavit in proof of service of certified copies with the Registrar of companies within 14 days from this date. SCHEDULE (A)The Scheme shall be effective from the effective date, i.e., 1-4-2007. (B)With effect from the effective date, the Undertakings of the Transferor companies shall, without further act or deed, be transferred to and vest in and shall be deemed to have been transferred to and vested in the Transferee Company pursuant to secti....

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....ordingly, shall be reckoned therefore from the date of their respective appointment in the Transferor Companies. (E)Upon the Scheme being sanctioned by this Hon'ble High Court at Ranchi and the transfer taking place as stipulated under the Scheme: "( i)the investments of the Transferee Company in the Share Capital of Transferor Companies shall stand cancelled. (ii )The Transferee company shall, without further application, issue and allot : (a )to the shareholders of equity shares of Rs. 10 each in Taudan Auto Components Pvt. Ltd. 180 equity shares in the Transferee company in exchange 100 shares of Taudan Auto Components Pvt. Ltd. credited as fully paid. (b )to the shareholders of equity shares of Rs. 10 each in Taurus Esdan....