TaxTMI 
TaxTMI 
2004 (7) TMI 646
X X X X Extracts X X X X
X X X X Extracts X X X X
....Dy.ROC JUDGEMENT By this petition filed under Sections 391(2) and 393 of the Companies Act, prayer is made for sanction of scheme of arrangement between M/s Hero Auto Limited (transferee company) and M/s Majestic Auto Limited (transferor company) whereby all the properties, rights and claims and the entire undertaking relating and pertaining to the Ghaziabad business of the transferor company i....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... investigation/proceedings have been initiated or are pending in relation to the applicant companies under Sections 235 to 251 of the Companies Act. It is mentioned that the proposed scheme of arrangement would take effect from the last date which is the effective date and the appointing date would be 1st April, 2003 on which requisite appro The applicant had earlier filed CA(M) No. 148/2003 prayi....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e scheme. Notice of this petition was issued to the Central Government through the Regional Director, Department of Company Affairs and Official Liquidator attached to this court. Notice was also directed to be advertised in Statesman (English) and Jansatta (Hindi) which was duly published. The Official Liquidator has filed his report raising no objection to the sanction of the proposed scheme. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n. There is other objection to the proposed scheme of arrangement. It may be pointed out that in the reply filed by the Regional Director, Department of Company Affairs some objection was raised as stipulated in In the aforesaid circumstances and having regard to the averments made in this petition and the materials placed on record and the affidavits filed by the Regional Director, Department of ....