2013 (4) TMI 881

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....vely referred to as ?Applicant companies?]. A copy of the proposed scheme is enclosed as Annexure - E to the present application. 2. The registered offices of the Applicant companies are situated in Delhi within the jurisdiction of this Court. 3. Details of the dates of incorporation of the Applicant companies and their authorized, issued, subscribed and paid up capital have been enclosed in the present application. 4. Copies of the Memorandum and Articles of Association as well as the latest audited balance sheet of the Applicant companies for the year ended 31st March 2012 have also been enclosed with the application. 5. Learned counsel for the Applicant companies submits that no proceedings under Section 235 to 251 of the Act....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ansferee company has 843 unsecured creditors to whom an aggregate amount of Rs. 8,95,72,78,686 (Rupees eight hundred ninety five crores seventy two lakhs seventy eight thousand six hundred and eighty six) is due to be paid. A prayer has been made for dispensation of the requirement of convening the meetings of the unsecured creditors of the Applicant companies. 12. The consents of the unsecured creditors of the Applicant companies were not obtained. However, the requirement of convening meeting of the unsecured creditors of the Applicant Companies is dispensed with in view of the following averments made in the Application: (i) The Transferor company and the Transferee company are part of the Sony Group. Their shares are ultimat....