GUPTA ALIAS SYAL LIMITED Vs. JCT LIMITED

JUDGEMENT

(1.) THIS application under Sections 391, 392, 393 and 394 of the Companies Act, 1956 (Act for short) read with Rules 6 and 9 of the Company (Court) Rules, 1959 has been filed by M/s Gupta and Syal Limited (Transferor Company) in respect of scheme of amalgamation enclosed as annexure A-3 with JCT Limited (Transferee Company).

(2.) REGISTERED office of the transferor company is situated within the National Capital Territory of Delhi. REGISTERED office of the non- applicant/transferee company is located in State of Punjab. It is stated in the application that a separate application is being filed by the transferee company before the High Court of Punjab and Haryana at Chandigarh seeking directions. This order will be subject to the order, which may be passed by the High Court of Punjab and Haryana in respect of the transferee company.

(3.) IN view of the aforesaid, the need and requirement to convene and hold meeting of the shareholders of the transferor company is dispensed with. Meeting of the unsecured creditors of the transferor company is also dispensed with. Meeting of the secured creditors of the transferor company is not required to be held as the transferor company does not have any secured creditor. The application is disposed of. Dasti.