2016 (2) TMI 1122

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....Advocate for the petitioners   Mr. Rajiv Behl, Advocate for the OL ORDER 1. This is a joint application moved under Section 391 and 394 read with Section 100 to 104 of the Companies Act, 1956 (in short the 1956 Act).   2. The joint application is, in fact the first motion, which has been moved, in connection with the scheme of arrangement which envisages, broadly, the followi....

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....s of the transferor companies as averred is as follows :- Company No. of Shareholders Consent Given No. of Unsecured Creditors Consent Given Transferor Company No. 1 3 All 1 All Transferor Company No. 2 3 All 1 All Transferor Company No. 3 2 All 1 All Transferor Company No. 4 2 All 1 All   5.2 In so far as the tr....

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....s of value, 96.36% of the equity shareholders have given their consent. As regards, consents obtained in numbers, 92.86% of the total number of shareholders have given their consent. 7.1 In so far as the unsecured creditors are concerned, in terms of value 91.76% have given their consent which, in numbers, works out to 51.97%. 7.2. As regards, secured creditors of the transferee company, all....