2011 (7) TMI 1410

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....orporate Laws<br>S.J. Kathawalla J. For the Petitioners in both Petitions : Mr. Nandish Vyas along with Mr. Molla Hasan, i /b. AZB & Partners, Advocates, Dr. T. Pandian, Official Liquidator, present in CSP No.247 of 2011. Ms. S. V. Bharucha i/b Dr. T. C. Kaushik for Regional Director in both Petitions. ORDER P.C. : 1. Heard learned counsel for the parties. 2. The sanction of the Cou....

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....mpany have been conducted in a proper manner and that the Transferor Company may be ordered to be dissolved. 5. The Regional Director has filed an affidavit stating therein that save and except what is stated in paragraphs 6(a) and 6(b) thereof, it appears that the Scheme is not prejudicial to the interest of shareholders and public. In paragraphs 6(a) and 6(b) of the said Affidavit the Regiona....

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....ts of the Memorandum of Association of the Transferee Company. In this connection, the Transferee Company may be directed to comply with section 40 read with section 18 of the Companies Act, 1956 and to file amended copy of Memorandum of Association alongwith Form No.&nbsp;21 with the Registrar of Companies." 6. In response to the issue raised by the Regional Director in paragraph 6(a) of the s....

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....sp;21 with the Registrar of Companies. The undertaking is accepted. 8. From the material on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not contrary to public policy. None of the parties concerned have come forward to oppose the Scheme. 9. There is no objection to the Scheme and since all the requisite statutory compliances have b....