2012 (12) TMI 799

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.... for the Regional Director Mr. Rajiv Bahl, Advocate for the official Liquidator.   INDERMEET KAUR, J. (Oral) This Second motion joint petition has been filed under Sections 391 to 394 of the Companies Act, 1956( hereinafter referred to as „Act‟) by the petitioner Companies seeking sanction of the Scheme of Arrangement (hereinafter referred to as „Scheme‟) The pe....

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....petitioners showing compliance regarding service of the petition on the Regional Director, Northern Region and the Official Liquidator and also regarding Publication of Citations in the aforesaid News papers on 17.10.2012, copies of the news papers cuttings, in original, containing the publications have been filed with the affidavit of service. Pursuant to the notices issued, the Official Liquida....

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....om any other party, Mr. Ashim Sarin, Director of Transferor and Transferee companies has filed an affidavit dated 23rd November 2012 confirming that neither the petitioner companies nor their Legal Counsel has received any objection pursuant to the citations published in the Newspapers. Even today, During the Course of hearing Mr. Rajiv Bahl, Learned counsel for the Official Liquidator and Mr. K.....

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.... 30 days from receipt of the same. In terms of the provisions of Section 391 and 394 of the Companies Act, 1956 and in terms of the Scheme, the whole or part of the undertaking, the property, rights and powers of the Transferor company be transferred to and vest in the Transferee Company without any further act or deed. Similarly, in terms of the Scheme, all the liabilities and duties of the Trans....