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Judgment
Indermeet Kaur, J.—This is a first motion joint Application under sections 391 & 394; 100 to 104 of the Companies Act, 1956, in connection with the Scheme of Arrangement for (a) Amalgamation of PRJ Infracon Pvt. Ltd. with Arham Finance & Investment Services Ltd; and (b) Reduction of post merger share capital of the Transferee Company-Arham Finance & Investment Services Ltd. A copy of the proposed Scheme of Arrangement is filed along with the Application. It is stated that the Registered Offices of both the Applicant Companies are situated within the National Capital Territory of Delhi and within the jurisdiction of This Court.
Mr. Rajeev K. Goel, Learned Counsel for the Applicant Companies submitted that no proceedings under sections 235 to 251 of the Companies Act, 1956 are pending against any of the Applicant Companies as on the date of the present Application.
The proposed Scheme has been approved by the Board of Directors of both the Applicant Companies.
Status of the Shareholders, Secured and Un-secured Creditors of the Applicant Companies and the consents obtained for the proposed Scheme is clearly apparent from the chart given below:
A prayer has been made for dispensation of the requirement of convening meetings of Shareholders of the Transferor Company and the Transferee Company.
In view of the written consents/NOC obtained and averments made in the Application, requirement of convening separate meetings of the Shareholders are dispensed with. None of the Applicant Companies has any Secured and Un-secured Creditors. The Application stands allowed in the aforesaid terms.
Order Dasti.