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High Court for State of TelanganaCOMPA/221/2016ordered

M/S. Infostep India Private Limited, v. -

2016-03-02S.V.Bhatt4 pages

IN THE HIGH COURT OF JUDICATURE AT HYDERABAD

FOR THE STATE OF TELANGANA AND THE STATE OF ANDHRA PRADESH [Original Jurisdiction] WEDNESDAY THE SECOND DAY OF MARCH TWO THOUSAND AND SIXTEEN PRESENT HONOURABLE SRI JUSTICE S.V. BHATT COMPANY APPLICATION NO. 221 OF 2016

IN THE MATTER OF THE COMPANIES ACT, 1956

AND

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

AND

IN THE MATTER OF SCHEME OF AMALGAMATION

Between:

M/s. Infostep India Private Limited [Transferor Company] ... Applicant With M/s. Delta Technology & Management Services Pvt.Ltd. [Transferee Company] ... Respondent The Court made the following: [order follows] HONOURABLE SRI JUSTICE S.V. BHATT

COMPANY APPLICATION NO. 221 OF 2016 O R D E R :

M/s. Infostep India Private Limited, applicant/Transferor Company prays for dispensing with the holding of meeting of shareholders of Transferor Company for considering the proposed scheme of amalgamation. The Transferor Company has entered into a scheme of amalgamation with M/s. Delta Technology and Management Services Private Limited/Transferee Company. The share capital is Rs.5,00,000/- divided into 50,000 equity shares of Rs.10/- each. The Transferor Company holds 99.997% paid-up equity shares and one Narendranath Chebrolu holds one equity share representing .003% share holding. Along with the company applicant annexures 'A' to J-1 to J-2 have been filed. With the assistance of learned counsel for applicant, I have considered the aspects which have bearing on the prayer of the applicant. The applicant as annexure J-1 and J-2 placed on record the consent of the share holders for the proposed scheme of amalgamation.

2. Learned counsel for the applicant submits that the consent letters of secured and unsecured creditors will be filed

along with the petition filed for amalgamation.

3. The statement is accepted and recorded. Having perused the annexures referred to above, I am satisfied the purpose of conducting the meeting of share holders on the proposed scheme of amalgamation is unnecessary in view of the affidavits given by both the share holders.

4. The application is ordered subject to the condition of Transferor Company filing the consent letters of secured/unsecured creditors with amalgamation petition. ​ ___________________ JUSTICE S.V. BHATT 02/03/2016 I s L HONOURABLE SRI JUSTICE S.V. BHATT

COMPANY APPLICATION NO. 221 OF 2016 Date: 02/03/2016 Circulation No.

Court Master: I s L