RAJ BARCODE SYSTEMS PVT LTD Vs. STATE

JUDGEMENT

(1.) THE present petitions are for seeking sanction to the Scheme of Amalgamation of Crescent Chemitex Pvt. Ltd. (petitioner of Company Petition No. 62/09-Transferor Company) with Raj Barcode Systems Pvt. Ltd. (petitioner of Company Petition No. 61/09-Transferee Company ). The Scheme is produced at Annexure-C.

(2.) IN Company Petition No. 62/09, vide order dated 16. 03. 2009 passed by this Court in Company Application No. 69/09, as the consent letters of the equity shareholders and unsecured creditors were produced, this Court had dispensed with the meeting of the equity shareholders and unsecured creditors for consideration of the Scheme of amalgamation. At that time, it has also been recorded that as per the Certificate of the Chartered Accountant, there is no secured creditor of the Company.

(3.) IN Company Petition No. 61/09, vide order dated 16. 03. 2009 in Company Application No. 68/09, as the consent letters of all the equity shareholders were produced, this Court had dispensed with the meeting of the equity shareholders for consideration of the Scheme and it was also observed that the meeting of the creditor is not required to be held since the applicant therein is a Transferee Company.