SHANTIKRUPA INFRASTRUCTURES PVT LTD Vs. STATE

JUDGEMENT

(1.) THESE are the petitions filed by the petitioner Companies for sanction of a Scheme of arrangement in the nature of Amalgamation, amalgamating Shantikrupa Infrastructure Private Limited, the Transferor Company with Shantikrupa Estates Private Limited, the Transferee Company under Section 391 read with Section 394 of the Companies Act, 1956. Both the petitioner Companies belong to the same group of management.

(2.) IT has been pointed out that vide order dated 09. 02. 2009 passed in Company Application Nos. 17 and 18 of 2009, the meetings of the Equity Shareholders of both the companies and the Unsecured Creditors of the Transferor Company were dispensed with in view of the written letters placed on record. There were no Secured Creditors of the Transferor Company.

(3.) THE petitions were admitted vide order dated 27. 02. 2009. The public notices for the same were duly advertised in the newspapers 'indian Express' English daily, and 'sandesh' Gujarati Daily, both Ahmedabad editions dated 10. 03. 2009 and the publication in the Government Gazette was dispensed with. Affidavits dated 16. 03. 2009 confirm the same. No one has come forward with any objections to the said petitions even after the publication. The same has been further confirmed by the additional affidavit dated 25. 04. 2009 annexed to the petitions.