2012 (3) TMI 727

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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) would be transferred to transferee comp....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....partment 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 affidavit dated 07.06.2011 about service and publication....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nts 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 thereupon, shall distribute the net sale proceeds among i....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n 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 interest. The report of the Official Liquidator dated 13....