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. IN THE MATTER OF I SATKAR FIN CAP LTD. & ORS. ..... Applicants
' Through: Mr. Rajeev K. Goel, Advocate.
07.05.2012
ORDER
1. This is a first motion joint Application under Sections 39I &.394 of the Cornpanies Act, 1956 (for short 'Act'), in connection with the Scherne of Amalgamation (for short 'Scheme'). A copy of the Scheme is filed along with the Application.
2. It is stated that the registered offices of the Applicant Companies are situated within the National Capital Tenitory of Delhi and within the jurisdiction of this Court.
3. Learned counsel for the Applicant Companies submits that no proceeding under Sections 235 to 251 of the Act is pending against the Applicant Cornpanies as on the date of the present Application.
4. The proposed Scherne has been approved by the Board of Directors of Applicant Companies. co.APPL.(M) B2/20t[2] page I of[2]. 2012:DHC:9393
5. The status of the Shareholders, Secured and Un-secured Creditors of the Applicant Companies and the consents obtained frorn thern for the proposed Scherne is clearly apparent from the chart given which is as below:-
6. A prayer has been made for dispensation of the requirement of convening rneetings of Shareholders, Secured and Un-secured Creditors of the Applicant Cornpanies.
7. In view of the above chart, the requirernent of convening rneetings of Shareholders, Secured and Un-secured Creditors of the Applicant Companies is dispensed with.
8. The Application stands allowed in the aforesaid terms. Order dasti. rl t il,t II -JL MANMOII*TW-\ MAY 07,2012 js co.APPL.(M) 82/2012 Company No. of Share Holders Consent Given No. of Secured Creditors Consent Given No. of Un-secured Creditors Consent Given Transferor Company No.l