2009 (11) TMI 505

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....394 of the Companies Act, 1956 by which the applicants seek an amalgamation of Ganesh Synthetics Private Limited (Transferor Company No. 1), Abhinav Investments Private Limited (Transferor Company No. 2), Ginni Power Limited (Transferor Company No. 3), Goodworth Merchants Private Limited (Transferor Company No. 4), with Ginni Filaments Limited, Transferee Company. 2. The present petition seeks ....

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....loans representing the lending by the transferee company into equity. 3. The other facts are that scheme of amalgamation was initially approved by the Board of Directors of the Transferor Companies and Transferee Company on 19-12-2007. After getting approval from various quarters, the Company Application No. 18 of 2008 was filed before this Court on 30-7-2008 and on 1-8-2008. This Court passed ....

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....rector has filed his report on 29-4-2009. Other than imposing a condition that the company must comply with the accounting methods as provided in accounting standard 14, no other objection has been taken by the Regional Director. 8. The Official Liquidator has also filed a report and has made objections with regard to the conversion of the debts of the Company into equity. These objections are ....