Over 2 lakh Indian cases. Search powered by Google!

Case Details

RAJASTHAN NETWORK PRIVATE LIMI versus ===========

High Court of Rajasthan

Case Law Search

Indian Supreme Court Cases / Judgements / Legislation

Judgement


RAJASTHAN NETWORK PRIVATE LIMI v =========== - COAP Case No. 13 of 2006 [2006] RD-RJ 1372 (2 June 2006)

IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN AT

JAIPUR BENCH JAIPUR.

ORDER

In

S.B. Company Application No. 13 of 2006

IN THE MATTER OF THE COMPANIES ACT 1956

AND

IN THE MATTER OF SECTION 391 AND SECTION 394 OF THE COMPANIES ACT 1956

AND

IN THE MATTER OF SCHEME OF

AMALGAMATION

OF

RAJASTHAN NETWORK PRIVATE LIMITED

WITH

SYNERGY ENTREPRENEUR SOLUTIONS

PRIVATE LIMITED.

Date of Order : June 2, 2006

PRESENT

HON'BLE MR. JUSTICE SHIV KUMAR SHARMA

Mr. Sandeep Taneja for the applicants.

BY THE COURT

This application is filed by Rajasthan Network Private Limited, having its registered office situated at B-44 Malviya Nagar, Jaipur (Rajasthan ( hereinafter shall be referred to as 'the applicant transferor company) praying therein for an order to dispense with the calling of meetings of the shareholders in the matter of the consideration and approval of the scheme of amalgamation of the petitioner transferor company with Synergy

Entrepreneur Solutions Private Limited (hereinafter shall be referred to as 'the transferee company'). 2. Having heard learned counsel for the petitioner transferor company and on perusal of the document at page No.150 of the application, I am satisfied that the petitioner transferor company appears to be wholly owned subsidiary of the transferee company. The shareholders have given 'no objection' ( see at page 151 of the application) to dispense with the holding of their meeting as required under sections 391 and 394 of the Companies

Act, 1956, for consideration and approval of the scheme of amalgamation of the petitioner transferor company in the transferee company. 3. The petitioner transferor company has one unsecured creditor i.e.

Synergy Entrepreneur Solutions Private Limited. The Chartered Accountants of M/s. Rajasthan Network Private Limited (applicant company) issued a certificate at page 152 of the application that as per the books of accounts outstanding balance in unsecured loan is Rs. 9,77,50,000 taken from

Synergy Entrepreneur Solutions Private Limited. It was also certified that as on 15.1.2006 other liabilities and creditors includes interest liability towards unsecured loan amounting to Rs. 51,57,986 payable to Synergy

Entrepreneur Solutions Private Limited and there is no other liability or creditors. The Board of Directors of M/s. Synergy Entrepreneur Solutions approved and confirmed dispensing with the holding of meeting (as per page 153 of the application) as required under sections 391 and 394 of the

Companies Act, 1956 for consideration and approval of the scheme of amalgamation of the petitioner transferor company in the transferee company. 4. As a result of the aforesaid discussion I am satisfied that this application deserves acceptance the same is allowed. The holding of the meetings of the shareholders and unsecured creditors of the petitioner transferor company, as required under sections 391 and 394 of the

Companies Act, 1956, for consideration and approval of the scheme of amalgamation of the transfer company in the transferee company is dispensed with. 5. The application accordingly stands disposed of.

(SHIV KUMAR SHARMA )J.

Pareek/


Copyright

Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

Advertisement

dwi Attorney | dui attorney | dwi | dui | austin attorney | san diego attorney | houston attorney | california attorney | washington attorney | minnesota attorney | dallas attorney | alaska attorney | los angeles attorney | dwi | dui | colorado attorney | new york attorney | new jersey attorney | san francisco attorney | seattle attorney | florida attorney | attorney | london lawyer | lawyer michigan | law firm |

Tip:
Double Click on any word for its dictionary meaning or to get reference material on it.