BAKERI PROJECTS PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) These are the petitions filed by the petitioner companies for sanction of a Scheme of Amalgamation of Bakeri Engineering and Infrastructure Private Limited, the Transferor Company with Bakeri Projects Private Limited, the Transferee Company, under Section 391 to 394 of the Companies Act, 1956. It has been submitted that both the companies belong to the same group of management. The commercial activities of both these companies are similar in nature and complimentary to each other viz. the real estate activities. The amalgamation is proposed with primary objective of consolidation of the activities.

(2.) It has been pointed out that vide the orders dated 28th July 2015 passed in the Company Applications no. 214 and 215 of 2015, the meetings of the Shareholders and Unsecured Creditors of both the petitioner companies were dispensed with in view of the written consent letters from all of them being placed on record. There are no Secured Creditors of any of these companies.

(3.) The substantive petitions were admitted vide order dated 6th August 2015. The public notices for the hearing of petition were duly advertised in the newspapers 'Indian Express' English daily, Ahmedabad edition, and 'Gujarat Samachar', Gujarati daily, Ahmedabad edition dated 19th August 2015. The publication in the Government gazette was dispensed with. Affidavits dt. 24th August 2015 confirm the same. No one has come forward with any objections to the said petitions even after the publication and the same has been further confirmed by the additional affidavit dated 16th October 2015.