ALLIANCE SPRINGS CONSTRUCTIONS PRIVATE LIMITED Vs. NIL

JUDGEMENT

(1.) THIS application is filed under Section 391 to 394 of the Companies Act, 1956 seeking dispensation of notice of holding meeting of the Equity Shareholders of the Applicant-Company.

(2.) IT is stated that the Board of Directors of the Applicant Company has passed a resolution on 02.01.2012 by virtue of which the Applicant-Company is amalgamated with the Transferee Company subject to the confirmation. That the Board of Directors of the Transferee Company has passed a resolution on 05.01.2012 for amalgamation. It is stated that there are three equity shareholders in the Applicant Company holding 20,000 equity shares, who have given their consent letters in terms of Annexures-K, K1 and K2. That there are no secured or unsecured creditors. A letter from the Chartered Accountant confirming the same has been produced as Annexures-L and L1. That the Certificate issued by the Chartered Accountant, certifying the number and details of Equity Shareholders, Share Exchange ratio and Share Valuation Report of the Applicant Company are produced as Annexures-M, M1, M2 and M3.

(3.) ACCORDINGLY, the Company Application is allowed. The meeting of the Shareholders of the Applicant Company is dispensed with.