2012 (12) TMI 833

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....bsp; 1. This is a first motion joint Application under sections 391 & 394 of the Companies Act, 1956, in connection with the Scheme of Arrangement for de-merger of Strategic Business Division of Mahajan Industries Private Limited (Demerged Company) into Zeel Fincap Services Private Limited (Resultant Company). A copy of the proposed Scheme of Arrangement is filed along with the Application. &nb....

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....s 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.   7. The status of the Shareholders, Secured and Un-secured Creditors of the Demerged and Resultant Company and the consents obtained from them for the proposed Scheme ....