Megatech Power Equipments v.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 15.4.2015

CORAM

THE HON'BLE MR.JUSTICE V.RAMASUBRAMANIAN C.P.Nos.31 & 32 of 2015 Megatech Power Equipments Private Limited No.4/329A, Old Mahabalipuram Road Kottivakkam, Chennai 600 041 Petitioner in rep. by Yogeshwaran, Director.

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C.P.No.31/15 Consul Neowatt Power Solutions Private Limited No.4/329A, Old Mahabalipuram Road Kottivakkam, Chennai 600 041 Petitioner in rep. by Sriram Ramakrishnan, Director.

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C.P.No.32/15 ----- Petitions filed under Sections 391 to 394 of the Companies Act, 1956 for sanctioning of the Scheme of Amalgamation. ----- For Petitioner : Ms.Chitra Narayan Mr.P.Atchuta Ramaiah For Official Liquidator ----

O R D E R

These petitions are by the third transferor company and the transferee company seeking sanction of a Scheme of Amalgamation under Sections 391(2) and 394 of the Companies Act, 1956.

2. Heard Mrs.Chitra Narayan, learned counsel for the petitioners and Mr.P.Atchuta Ramaiah, learned Official Liquidator.

3. The transferor companies 1 and 2 have their registered offices in the State of Maharashtra coming within the jurisdiction of the High Court of Bombay. The petitioners herein have registered offices at Chennai within the jurisdiction of this Court. Hence, the third transferor company and the transferee company have come up with these petitions.

4. The Regional Director has filed a report indicating that these petitioners are regular in filing their statutory returns and that no complaints or prosecution is pending against the petitioners. The third transferor company, which is the petitioner in C.P.No.31 of 2015, also seeks dissolution without winding up.

5. The Official Liquidator has filed a report on the basis of the report of the Chartered Accountants appointed by this Court. He has indicated that the affairs of the companies are not carried in a manner prejudicial to the interest of the members or the creditors or the public.

6. Therefore, the company petitions are allowed and the Scheme of Amalgamation is sanctioned, subject to the orders to be passed by the Bombay High Court on the petitions filed by the transferor companies 1 and

2. Taking note of the report by the Chartered Accountant as enclosed by the Official Liquidator, in terms of the order passed by this Court, the third

transferor company shall stand dissolved without winding up, subject to the orders to be passed by the Bombay High Court on the petitions filed by the transferor companies 1 and 2.

15.4.2015.

kpl

V.RAMASUBRAMANIAN,J.

kpl C.P.Nos.31 & 32 of 2015.

15.4.2015.