PARAS PHARMACEUTICALS LIMITED Vs. STATE

JUDGEMENT

(1.) The present petitions are filed seeking sanction of Scheme of Amalgamation of Needwise Advertising Pvt. Ltd. with Paras Pharmaceuticals Ltd.

(2.) Paras Pharmaceuticals Ltd, the transferee company, filed Company Application No.370 of 2009 seeking dispensation of the meeting of Equity shareholders on the ground that consents of all the shareholders are obtained. This Court vide order dtd.25.09.2009 made in Company Application No. 370 of 2009 ordered dispensation of meeting of the equity shareholders of the petitioner company.

(3.) Needwise Advertising Pvt. Ltd. the transferor company, filed Company Application No.369 of 2009 seeking dispensation of the meetings of equity shareholders and sole unsecured creditor on the ground that consents of all the equity shareholders and sole unsecured creditor are obtained. It was stated on behalf of the petitioner that the petitioner does not have any secured creditor. This Court vide order dtd.25.09.2009 made in Company Application No.369 of 2009 ordered dispensation of meetings of the shareholders and sole unsecured creditor of the petitioner company.