VENKATARAMANA HOLDINGS PRIVATE LIMITED Vs. PRICOL HOLDINGS LIMITED

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 transferor company with the transferee company with effect from 01.04.2015. The scheme of amalgamation (in short the scheme) is appended as Annexure '6' to the petition.

(2.) M/S.Venkataramana Holdings Private Limited is the transferor company and M/s.Pricol Holdings Limited is the transferee company.

(3.) A perusal of the record shows that both the companies have complied with the prescribed procedure. It is stated that there is no secured creditor as far as transferor company is concerned and the certificate of the Chartered Accountant confirming the same is appended as Annexure '8' to the petition.