RAM KOHLI Vs. INDRAMA INVESTMENT PVT LTD

JUDGEMENT

(1.) By way of the present appeal, the appellant impugns the decision dated 01.06.2012 whereby the application of the appellant under Section 394 (2) and Section 395 (1) of the Companies Act (hereinafter referred to as the said Act), questioning the validity of the scheme of amalgamation sanctioned by the Company Judge vide order dated 24.08.2004, was dismissed.

(2.) Petition under Section 391 and 394 of the said Act were filed for sanctioning the scheme of amalgamation of M/s Indrama Investment Private Limited (transferor company) with M/s Select Holiday Resorts Ltd. (transferee company).

(3.) The transferor company filed an application under Section 391 (1) and Section 394 of the Companies Act for dispensation of the requirement of convening of the meeting of the equity shareholders and creditors of the transferor company. The Company Court while granting dispensation of the said meetings of the transferor company directed convening of separate meetings of equity shareholders, secured and unsecured creditors of the transferee company.