VIBANK HOUSING FINANCE LTD Vs. NIL

JUDGEMENT

(1.) THE petitioner a Company, for short the Transferor company' incorporated on 20th October 1995 under the Companies Act, 1956 (for short 'act') having its registered office at No. 15-16, vayudooth Chambers, 4th Floor, Trinity junction, M. G. Road, Bangalore-560001 has presented this petition seeking sanction of the scheme of amalgamation Exhibit-"e".

(2.) THE main objects of the Transferor company is to carry on business of providing long term finance to any person or persons, firm, company, corporation, society, association of persons on such terms and conditions as the company may deem fit for the purpose of construction or purchase of house/flat in India for residential purpose, amongst other objects set out in the memorandum and Articles of association Exhibit-"b".

(3.) THE Authorised share capital of the Transferor company is Rs. 10 crores divided into 1 crore equity shares of Rs. 10/- each while the issued, subscribed and paid up share capital is Rs. 10 crores divided into 10 lakh Equity shares of Rs. 10/- each.