VIJRAN HOTELS AND ESTATES P. LTD. Vs. STATE

JUDGEMENT

(1.) THESE company petitions are preferred under Sections 391 - 394 of the Companies Act, 1956, for sanctioning the scheme of amalgamation of the transferor company with the transferee company with effect from April 1, 2007. The scheme of amalgamation is annexed as annexure 3 in the petition.

(2.) THE petitioner in C. P. No. 117 of 2008 is the transferor company and the petitioner in C. P. No. 118 of 2008 is the transferee company.

(3.) THE consent affidavit from the equity shareholders to the scheme of amalgamation for approving the scheme of amalgamation is annexed as annexures Nos. 6 and 8, respectively. By order dated March 31, 2008 in C.A. Nos. 974 of 2007 (transferor company) and 986 of 2008 (transferee company), this Court, dispensed with the convening, holding and conducting of the meeting of the shareholders for the purpose of considering and if thought fit, approving with or without modification, the scheme of amalgamation of the transferor company with the transferee company.