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IN TI{E MATTER OF CERAGEM WORLD INDIA PRIVATE LIMITED ..... Applicant
Through: Mr. Ashish Middha, Advocate.
ORDER o/o -ol.oseon Co. Appl. 866/2012 in Co.A(M) 80/20L2
Keeping in view the averments in the application, the additional affidavit along with annexures filed by the Transferor Company is taken on record.
Accordingly, the application stands allowed.
Co.A(M) 80/2012 1 1. This is a first motion Application under Sections 39I & 394 of the Companies Act, 1956 (for short 'Act'), in connection with the
Scheme of Amalgamation (for short 'Scheme'). A copy of the
Scheme is filed along with the Application. co.APPL.(M 80/2012 page I of 3.
, 2012:DHC:9390
JUDGMENT
2. It is stated that the registered offices of the Applicant Company is situated within the National Capital Territory of Dblhi and within the jurisdiction of this Court.
3. Learned counsel for the Applicant Company submits that no proceeding under Sections 235 to 25I of the Act is pending against the Applicant Company as on the date of the present Application.
4. The proposed Scheme has been approved by the Board of Directors of Applicant Company.
5. The status of the Shareholders, Secured and Un-secured Creditors of the Applicant Company and the consents obtained from them for the proposed Scheme is clearly apparent from the chart given below:- *Constituting 66% in number and 85% invalue ** Constituting 86.60% in number and 99.39% in value
6. A prayer has been made for dispensation of the requirement of convening meetings of Shareholders, Secured and Un-secured Creditors of the Applicant Company. l I co.APPL.(M 80/2012 Company No. of Share Holders Consent Given No. of Secured Creditors Consent Given No. of Un-secured Creditors Consent Given Transferor Company 03 02 Nil N.A. 67 58"page 2 of[3]. -\i vI
7. Since the requirement of Sub-section 2 of Section 391 of the Act is met, the requirement of convening meetings of Shareholders, Secured and Un-secured Creditors of the Applicant Company is dispensed with.
8. 'The Application stands allowed in the aforesaid terms. Order dasti. r\ ! lL ( MANMOIilTT,T- MAY 07,2012 js co.APPL.(M) 80/2012 page 3 of[3]. t\