IN RE Vs. TTK PROTECTIVE DEVICES LIMITED

JUDGEMENT

(1.) This is an application under Section 391(2) and Section 394 of the Companies Act, 1956 praying for dissolution without winding up of the Transferor Companies namely, TTK Protective Devices Limited and TSL Techno Services Limited both situated at No.6 Cathedral Road, Chennai 600 086 (within the aforesaid jurisdiction) .

(2.) In this case, the 1st stage of filing applications for conducting/dispensing with meeting of shareholders has been completed. The report of the chairman in cases were there was a meeting has also been filed along with the publication of notices in the newspapers. Notice to statutory authorities has also been issued as per orders of the Hon'ble High Court.

(3.) It is a case of merger or amalgamation involving a holding company and its subsidiary wholly owned by enterprises belonging to the same group and /or mergers or amalgamations involving subsidiaries wholly owned by enterprises belonging to the same group.