2012 (10) TMI 503

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....plication under Sections 391 to 394 of the Companies Act, 1956, (for short 'Act') in connection with the Scheme of Amalgamation (for short 'Scheme') between Hind Comtel Limited (hereinafter referred to as Transferor Company-1), Shri Amba Leasing Limited (hereinafter referred to as Transferor Company-2), Havell's Financial Services Limited (hereinafter referred to as Transferor Company-3), QRG Heal....

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....he Application. 5 Learned Counsel for the Applicant Companies submits that no proceeding under Sections 235 to 251 of the Act is pending against any of the Applicant Companies as on the date of the present Application. 6 The proposed Scheme has been approved by the Board of Directors of both the Applicant Companies. Copies of the Board Resolutions have been filed along with the Application. ....

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....Page-625 N.A. Nil Pages-626 N.A. Transferee Company 7 Page-374 All Pages-688-698 Nil Page-628 N.A. 1 Pages-629 All Page-702 8 A prayer has been made for dispensation of the requirement of convening meetings of Equity Share holders and unsecured Creditors of the Transferor Companies. Further, a prayer has been made for dispensation of the requirement of convening me....

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....ed Creditors in the Transferor Company-2. Therefore, the requirement of convening meeting of Secured Creditors of the Transferor Company-2 does not arise. 11 In view of the written consents/NOC given by 8 Equity Shareholders out of 12 Equity Shareholders constituting 66.6% in number and 99.8% in value thereby representing more than three-fourth in value and all unsecured Creditors of the Transf....