NATCO ORGANICS LIMITED Vs. CENTRAL GOVERNMENT STANDING COUNSEL

JUDGEMENT

(1.) This company petition is preferred under sections 391 to 394 of the Companies Act, 1956 for sanctioning the scheme of amalgamation of the petitioner company with the transferee company with effect from 1st April 2015. The scheme of amalgamation (in short scheme) is appended as Annexure 2 to the petition.

(2.) The petitioner is the transferor company. The registered office of the Transferee company, viz., M/s.Natco Pharma Limited is at NATCO House, Road No.2, Banjara Hills, Hyderabad 500 034.

(3.) A perusal of the records show that the petitioner has complied with the prescribed procedure. Chartered Accountant certificate stating that the petitioner company has no secured creditor is appended as Annexure 9 to the petition. The copy of the resolution dated 18.05.2015 and 22.05.2015 passed by the Board of Directors of both the transferor company as well as the transferee company respectively adopting the scheme is enclosed as Annexure '1 and 5' to the petition.