SHETH HOUSING FINANCE PRIVATE LIMITED Vs. STATE

JUDGEMENT

(1.) The present petition is filed under the provisions of Sections 391 to 394 of the Companies Act, 1956 seeking sanction of the Scheme of Amalgamation of Sheth Housing Finance Private Limited with Swapna Srushti Horizon Private Limited.

(2.) It is submitted on behalf of the petitioner that Swapna Srushti Horizon Private Limited, the transferee company being the holding company earlier filed Company Application No.105 of 2016 seeking an order that no separate proceedings in respect of the transferee holding company are required to be undertaken under the provisions of Section 391 (2) of the Act. This Court by an order dated 21.3.2016 passed in Company Application No. 105 of 2016 allowed the said application. Accordingly, no separate petition on behalf of the transferee company is filed.

(3.) The petitioner -Transferor Company, filed Company Application No. 106 of 2016 seeking dispensation of the meetings of the Equity Shareholders and Unsecured Creditors. it is reported that there are no secured creditors of the petitioner - company. By an order dated 21.3.2016 passed in Company Application No. 106 of 2016, this Court ordered dispensation of the meetings of the Equity Shareholders and Unsecured Creditors.