TaxTMI 
TaxTMI 
2016 (8) TMI 1246
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....of Superlite Auto Private Limited (hereinafter referred to as the transferor company no. 1) and Sunlite Finvest Private Limited (hereinafter referred to as the transferor company no. 2) with Ferolite Jointings Limited (hereinafter referred to as the transferee company). 2. The registered offices of the transferor and transferee companies are situated at New Delhi, within the jurisdiction of this Court. 3. The transferor company no. 1 was incorporated under the Companies Act, 1956 on 12th May, 1994 with the Registrar of Companies, NCT of Delhi & Haryana at New Delhi. 4. The transferor company no. 2 was incorporated under the Companies Act, 1956 on 20th March, 1996 with the Registrar of Companies, NCT of Delhi & Haryana at New Delhi. 5. T....
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....of the Scheme of Amalgamation has been placed on record and the salient features of the Scheme have been incorporated and detailed in the application and the accompanying affidavit. It is claimed by the applicants that the proposed Scheme will result in improved asset base and reduction in cost and enable the transferee company to raise resources for future growth and expansion of the business. It is further claimed that the proposed amalgamation will enable the companies to pool their financial, commercial and other resources as the magnitude of the investments contemplated will be better met by the companies merged together and considerable synergy of operations will be achieved. 11. So far as the share exchange ratio is concerned, the ....
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....ought fit, approve, with or without modification, the proposed Scheme of Amalgamation is dispensed with. There is no secured creditor of the transferor company no. 1, as on 2nd March, 2016. 15. The transferor company no. 2 has 04 equity shareholders and 01 unsecured creditor. All the equity shareholders and the sole unsecured creditor have given their consents/no objections in writing to the proposed Scheme of Amalgamation. There consents/no objections have been placed on record. They have been examined and found in order. In view thereof, the requirement of convening the meetings of the equity shareholders and unsecured creditor of the transferor company no. 2, to consider and, if thought fit, approve, with or without modification, the pr....