PAREKH ELECTRAWIRE INDUSTRIES LIMITED Vs. STATE

JUDGEMENT

(1.) THE present petition has been filed for seeking sanction to the scheme of amalgamation of M/s. Parekh Electrawire Industries Ltd. , the transferor company with M/s. Aravali Infrapower Ltd. , transferee company and the present petition is on behalf of the transferor company. Since the registered office of the transferee company is located at Delhi it has been stated that the petition has been filed in the High Court of Delhi for seeking sanction and such sanction has been granted on 23. 03. 2009 by the High Court of Delhi as per the order passed in Company Petition No. 411 of 2008. The learned counsel has also placed on record the copy of the order passed by the Delhi High Court. The scheme of Amalgamation is produced at Annexuree to the petition.

(2.) IT appears that vide order dated 13. 03. 2009 passed by this Court in the present petition, as the consent letters of all equity shareholders and sole unsecured creditor were produced, for approval of the scheme, the meetings of the equity shareholders and of sole unsecured creditor were dispensed with. At that time the statement was also recorded that there are no secured creditors of the company.

(3.) THE present petition for seeking sanction to the scheme of amalgamation was admitted by this Court on 27. 03. 2009 read with the order dated 09. 04. 2009. As per the order passed by this Court in the present petition, the advertisement was ordered to be published in three newspapers; one English Daily 'indian Express' and Gujarati Daily 'sandesh' as well as 'gujarat Samachar'. The publication in Official Gazette was dispensed with. In response thereto the affidavit has been filed dated 05. 05. 2009 by S. A. Shaikh, registered clerk of the learned advocate and together with the said affidavit the extract of the paper publication in two Gujarati Newspapers as well as one English Newspaper have also been produced. Therefore, the direction for advertisement has been complied with. Further, in the additional affidavit dated 6th August, 2009 at para 4, it has been stated that, in response to the publication, the petitioner or its advocate have not received any objection from any person.