AAISHWARYA FABTEX PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) The present petitions are filed under the provisions of Sections 391 to 394 of the Companies Act, 1956 seeking sanction of this Court for the scheme of amalgamation of Aaishwarya Fabtex Private Limited with Aaiswarya Dyeing Mills Private Limited.

(2.) Aaiswarya Dyeing Mills Private Limited, the transferee company filed Company Application No. 36 of 2015 seeking dispensation of the meeting of the equity shareholders of the petitioner. The petitioner further submitted that this being the transferee company, the meetings of the creditors is not required to be held. By an oder dated 4.2.2015 passed in Company Application No.36 of 2015, this Court ordered dispensation of the meeting of the equity shareholders and further ordered that this being the transferee company, the meetings of the creditors is not required to be held.

(3.) Aaishwarya Fabtex Private Limited, the transferor company, filed Company Application No.35 of 2015 seeking dispensation of the meeting of the equity shareholders of the petitioner. By an order dated 4.2.2015 passed in Company Application No.35 of 2015, this Court ordered dispensation of the meeting of the equity shareholders. It is further reported that there are no creditors of the petitioner company.