2009 (1) TMI 482

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of Companies, Punjab, H.P. & Chandigarh at Jullandar. The authorized capital of 2,50,000 equity shares of Rs. 10 each was Rs. 25,00,000, the issued subscribed and paid up capital consisting of 2,45,000 equity shares was Rs. 24,50,000. The main object of the Transferor Company was to carry on business of manufacturing, production, fabrication, assembling, selling and dealing in bearings and bushes of all kinds and other related products. 3. The Transferee-Company had also been incorporated as a Private Limited Company on 13-9-1985 with the Registrar of Companies of NCT of Delhi and Haryana at New Delhi against the authorised capital of Rs. 20 lakhs secured through 2,00,000 equity shares of Rs. 10 each, the issued, subscribed and paid up c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ccountants having their office at Delhi, who are the statutory auditors of the Transferor Company and the Transferee Company, upon a reference by the management of the amalgamating Company have made a due diligence report and opined a fair exchange ratio between the shares of two companies in such a way that the Transferee Company shall issue at par and allot to the shareholders of the Transferor Company in proportion of one equity share of Rs. 10 each in the equity capital of the Transferee Company credited as fully paid up for every 4.5 equity shares of Rs. 10 each fully paid in the equity share capital of the Transferor Company. The name of the amalgamated Company would be Trishiv Investments Pvt. Ltd. (TIPL). The respective resolutions ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ator attached to the Company under section 394 of the Companies Act, 1956. 7. On consideration of all the relevant facts and the procedural requirements under sections 391 to 394 of the Companies Act and the relevant rules and on due consideration of the report of Regional Director, which has been filed on 10-12-2008, I am of the opinion that the Scheme of Amalgamation as proposed deserves to be approved in the manner it was filed and approved in the meetings conducted as per the order of the Court. The Central Government has also reported that M/s. S. Chadha Associates, Chartered Accountants have scrutinised the books of account and other relevant records and reported that the affairs of the Transferor Company have been conducted in suc....