2013 (8) TMI 31

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....nt application has been filed under Sections 391 and 394 of the Companies Act, 1956 ('Act') in connection with the Scheme of Arrangement ('Scheme') of Madhusudan Auto Limited (hereinafter referred to as 'Transferor Company') and Strong Vintrade Private Limited (hereinafter referred to as 'Transferee Company') [hereinafter collectively referred to as 'Applicant Companies']. A copy of the proposed S....

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....pectively. 5. The learned counsel for the Applicant Companies submits that no proceedings under Sections 235 to 251 of the Act are pending against any of the Applicant Companies as on the date of the application. 6. The proposed Scheme has been approved by the Board of Directors ('BoDs') of the Applicant Companies. The copies of the board resolutions have been filed with the application. ....

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....e duly given their no objection certificates for the approval of the proposed Scheme. 9. It is stated that the Transferor Company has 42 (Forty Two) unsecured creditors and 1 (One) unsecured debenture holder and the Transferee Company has 1 (One) unsecured creditor. Out of the 42 (Forty Two) unsecured creditors of the Transferor Company, 35 unsecured creditors in terms of number and more than 9....