ADVANCE PLASTICS P LTD Vs. STATE

JUDGEMENT

(1.) The sanction of the court is sought to a scheme of amalgamation under Sections 391 to 394 of the Companies Act, 1956 .

(2.) Mr. Shah, learned Counsel appearing for the petitioner, has stated before the court that in so far as the transferor company is concerned :

(3.) In so far as the transferee company is concerned, the court has been informed by learned Counsel for the petitioner that all the shareholders have granted their consent and there are no secured or unsecured creditors. In view thereof convening and holding a meeting of the equity shareholders of the transferee company for the purpose of scheme of amalgamation was dispensed with.