HT MEDIA LIMITED Vs. FIREFLY E-VENTURES LIMITED

JUDGEMENT

(1.) THIS application under Sections 391 - 394 read with Sections 100 -104 of the Companies Act, 1956 (Act for short) has been filed by HT Media Limited (Transferee Company for short) in respect of the scheme of arrangement and restructuring between them and Firefly e -Ventures Limited (Transferor Company for short). Copy of the scheme has been enclosed as annexure -P1 to this application.

(2.) REGISTERED office of the transferee company is situated within the National Capital Territory of Delhi. Along with the application copy of the Articles and Memorandum of Association and audited balance sheets of the transferee company has been placed on record. Resolution passed by the Board of Directors of the transferee company approving the proposed scheme of arrangement and restructuring has also been placed on record. In the application details with regard to the date of incorporation of the transferee company, their authorized, subscribed, issued and paid up share capital have been stated. It is stated in the application that no proceedings under Sections 235 - 251 of the Act are pending against the transferor and transferee company.

(3.) MEETING of the shareholders of the transferee company to consider and vote on the proposed scheme with or without modification will be held on 2nd February, 2011 at FICCI Golden Jubilee Auditorium, Tansen Marg, New Delhi at 12 noon. The coram of the said meeting will be as per the Articles and Memorandum of Association of the transferee company.