TaxTMI 
TaxTMI 
2021 (1) TMI 1192
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....ny, approving the Scheme of Amalgamation is also annexed with the application marked as Annexure "C". 2. The Applicants in the present Company Application have narrated about the rational of the proposed company scheme, which are being reproduced below: RATIONAL OF THE SCHEME a) The Applicant Companies are carrying on business activities under the management of the same family/group, therefore it would be beneficial for the Transferor Company to merge in the Transferee Company. b) Further, the majority shares of the Applicant Companies are held by the same family/group, thereby having common control. Hence, Amalgamation of these Companies will be convenient for the Company to operate as a combined entity. c) The management of the Companies has examined the relative business strengths and the potential commercial and other synergies of the consolidated entity and, accordingly, the possibility of consolidating their businesses under a single entity was mooted. d) The amalgamation is expected to consolidate and streamline the holding of the promoters for a better and more efficient control as the integration would result in greater finan....
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....EA PRIVATE LIMITED B1 Shares Authorized Share Capital of Rs. 90,00,000/- and Issued, Subscribed and Paid-up Capital of Rs. 87,85,000/- B2 Objects of Company (In Brief) To promote the formation and mobilization of capital, to manage capital savings and investment , to carry on the business of a leasing company hire purchase company, finance company, to undertake all types of leasing and hire purchase business related to all kinds of machinery, plant, equipment, ships, vehicles etc  To carry on business as advisers and/or consultants on matters and problems relating to the import, export, industries, administration, management, organization, accountancy, costing, financial, marketing, taxation, company law matters, computers, decoration, accounting system, managerial and all other matters, etc.  To borrow, raise, secure the payment of money, to receive money on deposits with or without interest for the purpose of company's business in such manner and on such terms and with such rights powers, privileges and conditions as company may think fit by promissory notes, by taking credits in or opening current account's with any person or persons, firm or fi....
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....s of VANRAJ SUPPLIERS PRIVATE LIMITED, the applicant transferor Company and SHREE SHYAM TEA PRIVATE LIMITED the Applicant Transferee Company are hereby dispensed with, in the light of the consent letters on affidavit, placed on record. The list of Shareholders of all the Applicant Companies along with Affidavits from individual shareholders of the Applicant Companies, giving their consents to the proposed Scheme of Amalgamation is annexed as Annexure "I". ii. Since there is NIL Secured and Unsecured Creditors of the Applicant Transferor Company as per the certificates of the auditors of the Company for NIL Secured and Unsecured Creditors annexed and marked as Annexure "F", its meetings are dispensed with. iii. Since the Transferee Company has no secured creditors as per the Certificate from auditors certifying the classes of creditors of all the Applicant Companies is annexed as Annexure "H", its meeting is dispensed with. iv. Further a meeting of the Unsecured Creditors of the Applicant Transferee Company, shall be convened and held at the registered office of the Transferee Company at Makum Road, Tinsukia, Assam- 786125 on 15th day of March 2021 at 11:0....
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....nvenient date time but not later than 19th March, 2021. ix. The Chairperson for the meeting Mrs. Usha Daga may appoint any suitable person as the scrutinizer for the meeting to be convened. x. The Chairman for the aforesaid meeting shall issue advertisements and send out notices of the said meeting referred to above. The Chairman is free to avail the services of the Applicant Company or any agency for carrying out the aforesaid directions. The Chairman of the meeting shall have all powers under Article of Association of the Applicant Company and also under applicable rules, including the power for deciding any procedural questions, that may arise at the meeting, amendment(s) to the aforesaid meeting by any person(s); and to ascertain the decision of the meetings through a poll i.e., by polling paper/ballot. xi. The quorum for the meeting of the said meeting of unsecured creditor shall be 5 (Five) Unsecured creditors, present in person or by authorized representative or by proxy. xii. Voting by proxy/authorized representative is permitted provided that the proxy in the prescribed form/ authorization duly signed by the person entitled to attend and....