{"id":38683,"date":"2010-02-19T00:00:00","date_gmt":"2010-02-18T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/castle-merchants-private-ltd-vs-on-19-february-2010"},"modified":"2018-06-08T02:00:38","modified_gmt":"2018-06-07T20:30:38","slug":"castle-merchants-private-ltd-vs-on-19-february-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/castle-merchants-private-ltd-vs-on-19-february-2010","title":{"rendered":"Castle Merchants Private Ltd vs ================= on 19 February, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Rajasthan High Court<\/div>\n<div class=\"doc_title\">Castle Merchants Private Ltd vs ================= on 19 February, 2010<\/div>\n<pre>    \n\n \n \n \n\n \t             In the High Court of Judicature for Rajasthan \n\t\t\t\t               Jaipur Bench \n\t\t\t\t\t               **\n<\/pre>\n<p>              Company Petition No.25\/2009<br \/>\n                for amalgamation of<br \/>\n                Castle Merchants (P) (Transferor Co.)<br \/>\n\t  And  Borodrill Commercial Co. (Transferee Co.)   <\/p>\n<p>\t\t                   Date of Order     :::        19\/02\/10<\/p>\n<p>\t\t                   Hon&#8217;ble Mr. Justice Ajay Rastogi<\/p>\n<p>Mr. Sandeep Taneja, for petitioners-Company<br \/>\nMr. BK Sharma for Official Liquidator.\n<\/p>\n<p>\t\tInstant company petition has been filed seeking amalgamation of Castle Merchants (P)Limited transferor Co.) &amp; Borodrill Commercial Co. (P) Ltd (transferee Co.) U\/s 391 to 394 of Companies Act, 1956 (Co. Act).\n<\/p>\n<p>\t\tVide order dt.06\/11\/2009 passed in Company Appl.No.43\/2009, this Court directed to dispense with holding of meeting of the secured creditors, unsecured creditors &amp; share holders of the Transferor &amp; Transferee Companies.\n<\/p>\n<p>\t\tVide order dt.18\/12\/09 this Court issued notices of the instant company petition to the Official Liquidator and Regional Director (Northern Region) Ministry of Corporate Affairs, PDIL, Bhawan, Sector-1, Noida and to be published in two daily news papers and accordingly notices were published in Indian Express (Delhi Edition) &amp; Rajasthan Patrika (Hindi) (Jaipur Ed.) on 26\/01\/2010. In response thereto, the Official Liquidator filed the reply and affidavit of the Regional Director and from a perusal thereof, it depicts there is no objection for amalgmation of petitioner-Companies and it has been inter-alia deposed that as per Scheme of arrangement, all the employees of Transferor Company shall become employees of Transferee Company without any break &amp; interruption in their services upon sanctioning the Scheme of Amalgamation.\n<\/p>\n<p>\t\tOfficial Liquidator also filed report of Shri NC Jain Chartered Accountant; as per which, he has examined the accounts books and other records and observed that the affairs of the Transferor company have not been conducted in a manner prejudicial to the interest of members &amp; creditors. However, nobody raised any objection for the Scheme of arrangement.\n<\/p>\n<p>\t\tThis Court has considered submissions made by Counsel for petitioners, Regional Director, Ministry of Corporate Affairs and Official Liquidator and with their assistance, examined the material placed on record. Having examined the Scheme of Arrangement, this Court finds nothing prejudicial to the interest of creditors, members of both the Transferor &amp; Transferee Companies.\n<\/p>\n<p>\t\tConsequently, company petition is allowed. This Court do hereby sanction the arrangement set forth in Annexure-7 &amp; Schedule appended to the Company petition; and do hereby declare the same to be binding on creditors and equity share holders of both the Transferor &amp; Transferee Companies.\n<\/p>\n<p>\t\tThe parties to this arrangement or other persons interested shall be at liberty to apply to this Court for any directions that may be necessary in regard to the working of the compromise\/arrangement.\n<\/p>\n<p>\t\tThe order in prescribed Form NO.42 be issued separately by the Registrar as per R.84 of Companies (Court) Rules, 1959.\n<\/p>\n<p>\t\tThe said Companies may file with the Registrar of Companies a certified copy of this order within 14 days.\n<\/p>\n<p>\t\t\t\t\t\t                (Ajay Rastogi),   J.\n<\/p>\n<p>K.Khatri\/p3\/<br \/>\n25Co.Pet2009Fb19-391(1).do<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rajasthan High Court Castle Merchants Private Ltd vs ================= on 19 February, 2010 In the High Court of Judicature for Rajasthan Jaipur Bench ** Company Petition No.25\/2009 for amalgamation of Castle Merchants (P) (Transferor Co.) And Borodrill Commercial Co. (Transferee Co.) Date of Order ::: 19\/02\/10 Hon&#8217;ble Mr. Justice Ajay Rastogi Mr. Sandeep Taneja, for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,29],"tags":[],"class_list":["post-38683","post","type-post","status-publish","format-standard","hentry","category-high-court","category-rajasthan-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Castle Merchants Private Ltd vs ================= on 19 February, 2010 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/castle-merchants-private-ltd-vs-on-19-february-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Castle Merchants Private Ltd vs ================= on 19 February, 2010 - Free Judgements of Supreme Court &amp; 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