2012 (3) TMI 727

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....ent 1 : Mr. YV Vaghela With Mr. PS Champaneri. ORAL ORDER 1. These common Company Petitions are filed by the petitioner companies for sanctioning the scheme of amalgamation of Facet Polishing Works Private Limited (Transferor Company) with Tirupati Organizers Private Limited (Transferee Company) whereby, all the assets and liabilities of the Transferor Company (as defined in the scheme) woul....

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....ral Government through the Regional Director, Department of Company Affairs. The notice was also issued to the Official Liquidator. The notices were also ordered to be published in "Indian Express", English Daily and "Jansatta" Gujarati Daily, both in Surat Editions respectively. Pursuant to the same, notices for hearing of petitions were published on 04.05.2011 in the said newspapers. An affidavi....

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....instead, consolidate all such fractional entitlements and allot shares in lieu thereof to a Director or an authorised officer of the company with the express understanding that such Director or the officer shall sell the same at the best available price in one or more lots by private sale/placement or by auction as deemed fit and pay the sale proceeds to the transferee company. The company thereup....

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....pointed for the purpose of scrutiny and investigation of the books of accounts and affairs of the company have submitted their report and on the basis of information and explanation given to them and the books of accounts produced before them, they are of the opinion that the affairs of the company have not been conducted in a manner prejudicial to the interest of its members or to the public inte....