,,,,,,
Dr. PSN Prasad, Member (Judicial); Umesh Kumar Shukla, Member (Technical)",,,,,,
1. This is a Joint First Motion Application filed by Applicant Companies namely; AAA Vehicleades Private Limited (hereinafter referred to as,,,,,,
‘Applicant No.1’ or ‘Transferor Company No. 1’), Pathankot Vehicleades Private Limited (hereinafter referred to as ‘Applicant No.",,,,,,
2’ or ‘Transferor Company No. 2’), J and K Vehicleades Private Limited (hereinafter referred to as ‘Applicant No. 3’ or",,,,,,
‘Transferor Company No. 3’) and Jamkash Vehicleades Private Limited (hereinafter referred to as ‘Applicant No. 4’ or ‘Transferee,,,,,,
Company’) under Sections 230 to 232 and other applicable provisions of ‘The Companies Act, 2013’ (hereinafter referred to as the",,,,,,
‘Act’) read with ‘The Companies (Compromises, Arrangements and Amalgamation) Rules, 2016’ (hereinafter referred to as the",,,,,,
‘Rules’) in relation to the Scheme of Amalgamation (hereinafter referred to as the ‘Scheme’) of the Applicant Companies seeking,,,,,,
appropriate order for dispensation/ convening of the meetings of shareholders, secured creditors and unsecured creditors. A copy of the said Scheme",,,,,,
is attached as Annexure A-1 of the Application.,,,,,,
2. The registered offices of all the Applicant Companies are situated in the UT of Jammu and Kashmir, therefore, the subject matter of the application",,,,,,
is within the jurisdiction of this Bench.,,,,,,
3. The Facts of the case, as stated in the application, are as below:",,,,,,
(i) AAA Vehicleades Private Limited or Applicant No. 1 was incorporated on 08.01.2008 under the Companies Act, 1956 as a limited company with limited liability and",,,,,,
Certificate of Incorporation was issued by the Registrar of the Companies, Jammu and Kashmir. Its registered office address is Vehicleades, B.C Road, Jammu, Jammu",,,,,,
and Kashmir, JK-180001. Its authorized share capital is Rs.10,00,00,000/- divided into 10,00,000 equity shares of Rs.100/- each and subscribed, issued & paid up share",,,,,,
capital is Rs.9,95,00,000/- divided into 9,95,000 equity shares of Rs.100/- each. Subsequent to 30.09.2021, there has been no change in the capital structure of the",,,,,,
company. The main/ principal objects of the company, as set out in its Memorandum of Association are as under:",,,,,,
“(i) To carry on the business in India or elsewhere the business of dealers agents, stockist, distributors, importers, exporters, buyers and sellers of motor vehicles and automobiles",,,,,,
of all kinds and descriptions including cars, jeeps, buses, trucks, scooters, motor cycles, mopeds, three wheelers.",,,,,,
(ii) To carry on the business of importing, exporting, manufacturing, assembling, producing, exhibiting, using, manipulating, working, distributing, buying, selling",,,,,,
and otherwise dealing in all kinds of automobile spare parts and accessories for automobiles, omni buses, motor cars, motor cycles, bicycles, tractors,",,,,,,
agricultural implements, industrial engines, velocipedes, aero planes, sea planes, hydroplanes, gliders vehicles and carriages and other vehicles of all kinds, whether moved by",,,,,,
mechanical power or not.,,,,,,
(iii) To carry on the business in India and elsewhere to manage, run, establish, install and build service stations, workshops, garages, denting and painting units, battery service",,,,,,
stations, fuel stations, petrol pumps, tyre retrading units, upholstery units, body building units to convert, care, finish, handle, lubricate, hire, alter, improve, clean, service, repair,",,,,,,
shape, paint, weld, renovate, import, export, buy, sell, and equip motor vehicles, and automobiles of all descriptions, specifications, varieties, sizes, shapes, dimensions, capacities and",,,,,,
to carry on the business of purchase, sale, export, import of oil and petroleum products of all kinds and descriptions.",,,,,,
(iv) To carry on the business of selling and servicing of all kinds of insurance products in retail or wholesale or otherwise and develop create website online portal or mobile,,,,,,
application for the selling and servicing of insurance products.â€,,,,,,
(ii) Pathankot Vehicleades Private Limited or Applicant No. 2 was incorporated on 08.06.1995 under the Companies Act, 1956 as a limited company with limited liability",,,,,,
and Certificate of Incorporation was issued by the Registrar of the Companies, Jammu and Kashmir. Its registered office address is B.C Road, Jammu, Jammu and",,,,,,
Kashmir, JK-180001. Its authorized share capital is Rs.1,00,00,000/- divided into 1,00,000 equity shares of Rs.100/- each and subscribed, issued & paid up share capital",,,,,,
is Rs.57,00,000/- divided into 57,000 equity shares of Rs.100/- each. Subsequent to 30.09.2021, there has been no change in the capital structure of the company. The",,,,,,
main/ principal objects of the company, as set out in its Memorandum of Association are as under:",,,,,,
“(i)To be an automobile dealer of Car, Truck, Scooter & also deal in spare parts, accessories & running of automobiles workshop.",,,,,,
(ii) To carry on the business of selling and servicing of all kinds of insurance products in retail or wholesale or otherwise and develop create website online portal or mobile application,,,,,,
for the selling and servicing of insurance productsâ€.,,,,,,
(iii) J and K Vehicleades Private Limited or Applicant No. 3 was incorporated on 23.01.2001 under the Companies Act, 1956 as a limited company with limited liability",,,,,,
and Certificate of Incorporation was issued by the Registrar of the Companies, Jammu and Kashmir. Its registered office address is Vehicleades, B.C Road, Jammu,",,,,,,
Jammu and Kashmir, JK-180001. Vehicleades B.C Road, Jammu, Jammu and Kashmir, JK-180001. Its authorized share capital is Rs.2,20,00,000/- divided into 2,20,000",,,,,,
equity shares of Rs.100/- each and subscribed, issued & paid up share capital is Rs.2,18,25,000/- divided into 2,18,250 equity shares of Rs.100/- each. Subsequent to",,,,,,
30.09.2021, there has been no change in the capital structure of the company. The main/ principal objects of the company, as set out in its Memorandum of",,,,,,
Association is as under:,,,,,,
“(i) To be an automobile dealer of Car, Truck, Scooter & also deal in spare parts, accessories & running of automobiles workshop.",,,,,,
(ii) To carry on the business of selling and servicing of all kinds of insurance products in retail or wholesale or otherwise and develop create website online portal or mobile application,,,,,,
for the selling and servicing of insurance productsâ€.,,,,,,
(iv) Jamkash Vehicleades Private Limited or Applicant No. 4 was incorporated on 04.03.1993 under the name and style of Janki Motors Private Limited under the,,,,,,
Companies Act, 1956 as a private limited company with limited liability. In 2002, the Company had changed its name from Janki Motors Private Limited to Jamkash",,,,,,
Vehicleades Private Limited. Its registered office address is Vehicleades, B.C Road, Jammu, Jammu and Kashmir, JK-180001. Vehicleades B.C Road, Jammu, Jammu and",,,,,,
Kashmir, JK-180001. Its authorized share capital is Rs.10,00,00,000/- divided into 1,00,00,000 equity shares of Rs.10/- each and subscribed, issued & paid up share",,,,,,
capital is Rs.9,77,88,250/- divided into 97,78,825 equity shares of Rs.10/- each. Subsequent to 30.09.2021, there has been no change in the capital structure of the",,,,,,
company. The main/ principal objects of the company, as set out in its Memorandum of Association is as under:",,,,,,
 “(i) To carry on the business of merchants, agents and dealers of Motor car, bus & Truck, Chassis, jeeps, two wheelers, scooters, Motor cycle & mopeds, three wheelers, auto",,,,,,
rickshaws and load carriers, tractors and their accessories, heavy and light earth moving machine and allied accessories, automobiles spare parts readymade bodies and other",,,,,,
automobile machinery of all types and kinds.,,,,,,
(ii) To carry on the business of representatives of manufacturers of automobile machinery spare parts & accessories.,,,,,,
(iii) To carry on the running workshop and to undertake and execute of all type of mechanical & automobiles body building job.,,,,,,
(iv) To carry on the business of selling and servicing of all kinds of insurance products in retail or wholesale or otherwise and develop create website online portal or mobile,,,,,,
application for the selling and servicing of insurance products.,,,,,,
(v) The lists of Directors of Applicant Nos.1, 2, 3 and 4 have been annexed with the Application as Annexure A-8-A, Annexure A-21, Annexure A-34 and Annexure",,,,,,
A-47 respectively. The copy of master data, PAN and Certificate of Incorporation of Applicant Nos.1, 2, 3 and 4 have been annexed with the Application as Annexure",,,,,,
A-3, Annexure A-15, Annexure A-28 and Annexure A-41 respectively. The certified true copy of Memorandum and Articles of Association of Applicant Nos.1, 2, 3",,,,,,
and 4 have been annexed with the Application as Annexure A-4, Annexure A-16, Annexure A-29, Annexure A-42 respectively.",,,,,,
(vi) The copy of audited balance sheet and profit and loss account as on 31.03.2021 of Applicant No. 1, 2, 3 and 4 have been annexed with the Application as",,,,,,
Annexure A-5, Annexure A-17, Annexure A-30 and Annexure A-43 respectively. The copy of provisional balance sheet and profit and loss account as on 31.03.2022",,,,,,
of Applicant Nos. 1, 2, 3 and 4 have been annexed with the Application as Annexure A-6, Annexure A-18, Annexure A-31 and Annexure A-44 respectively.",,,,,,
(vii) The Board of Directors of the Applicant No. 1, 2, 3 and 4 have approved and recommended the Scheme and exchange ratio at their Board Meetings held on",,,,,,
08.11.2021 respectively and copy of the Board Resolutions dated 08.11.2021 of the Applicant No. 1, 2, 3 and 4 have been annexed with the Application as Annexure",,,,,,
A-13, Annexure A-26, Annexure A-39 and Annexure A-52 respectively.",,,,,,
(viii) The benefits of the Scheme of Amalgamation/Merger are as under given below:,,,,,,
“i Enable the companies to pool their resources. The proposed amalgamation will result in consolidation of the business of the Transferor companies with the business of the,,,,,,
Transferee Company;,,,,,,
ii. The amalgamated entity will provide strategic and competitive advantage due to its increased size and integration of the businesses and will enable better integration of the businesses,,,,,,
and will enable better prospects for the business of the Companies;,,,,,,
iii. The amalgamation will result in economies of scale;,,,,,,
iv. The amalgamation/merger will provide the companies with the resources to invest in Transferee Company and provide long-term profitable growth to the shareholders. With the,,,,,,
increase in competition and squeezing margins, more investment will be needed in the transferee Company.",,,,,,
v. The amalgamated/merged company will have better financial and business prospects. The scheme shall be beneficial and will be in public interest, as it will immediately provide",,,,,,
strength to the Transferee Company on its merger with the Transferor companies.,,,,,,
vi. It would be advantageous to combine the activities of the companies involved in the amalgamation/merger into a single Company. The amalgamation would provide synergistic,,,,,,
linkages, besides reduction in costs by combining the total business functions and the related activities and thus contribute to the profitability of the amalgamated Company.",,,,,,
vii. A larger growing Company will mean enhanced financial and growth prospects for the people and organization connected with the Company, and will be in public interest.",,,,,,
viji. It will be conducive for better and more efficient and economical control and business and financial conduct of the Companies.,,,,,,
ix. Cost savings are expected to flow from more focused operational efforts, rationalization, standardization and simplification of business processes, and the elimination of duplication,",,,,,,
and rationalization of administrative expenses.,,,,,,
x. There shall be a significant reduction in the multiplicity of regulatory and legal compliances / filings including accounting, reporting requirements, statutory audit requirements, tax",,,,,,
filings, multiple records keeping etc. other compliances and consequential reduction in administrative costs and optimal utilization of resources of all the companies.",,,,,,
xi. Improved organizational capability and leadership, arising from the pooling of human capital who have the diverse skills, talent and vast experience to compete successfully in an",,,,,,
increasingly competitive industry.,,,,,,
xii Greater integration and greater financial strength and flexibility for the Transferee Company, which would result in maximizing overall shareholder value, and will improve the",,,,,,
competitive position of the combined entity.,,,,,,
xiii All the employees of the Transferor Companies in service on the Effective Date, if any, shall become the employees of the Transferee Company on and from such date without any",,,,,,
break or interruption in service and upon terms and conditions not less favourable than those subsisting in the Transferor Company as on date.,,,,,,
xiv It will also help in better tax planning and tax management. It will suffice the purpose of reducing debts by pooling of resources of the merged entities.â€,,,,,,
(ix) The effect of the proposed scheme is reproduced as below:,,,,,,
“i. The merger of AAA Vehicleades Private Limited, Pathankot Vehicleades Private Limited, J and K Vehicleades Private Limited into Jamkash Vehicleades Private Limited.",,,,,,
ii. The existence of the company Jamkash Vehicleades Private Limited shall be final on proposed merger of the all the Companies, however the name AAA Vehicleades, Pathankot",,,,,,
Vehicleades, Kangra Vehicleades (A Unit Of Pathankot Vehicleades) and J and K Vehicleades will remain and act as a units/ brands/ divisions of Jamkash Vehicleades Private Limited",,,,,,
iii. Other matters consequential or otherwise integrally connected to the foregoing.â€,,,,,,
(x) As per the copy of the Valuation Report dated 18.10.2021 of Mr. Subodh Kumar, IBBI Registered Valuer (Registration No. IBBI/RV/05/2019/11705), Chartered",,,,,,
Accountants, Jammu annexed with the Application as Annexure A-2, upon Scheme becoming effective and in consideration of the transfer and vesting of the entire",,,,,,
business and the whole of the undertakings of the Transferor companies in the Transferee Company, the Transferee Company shall, without any further act,",,,,,,
application, instrument or deed, issue and allot shares in the following ratio:",,,,,,
“a. 1 (One) equity shares of Rs.10/- each fully paid up to the shareholders of the Transferor company-I (other than Transferee Company), whose name(s) appear in the Register of",,,,,,
Members of the Transferor company-I as on the record date or to the heirs, executers, administrators or the successor's in-title of such shareholders in the ratio of 1:0.48, 0.48 (Zero",,,,,,
point Forty Eight) equity shares of Rs.10/- each in the Transferee Company for every 01 (one) equity shares of Rs.10/- each in the Transferor company-I (""Transferor companies Share",,,,,,
Entitlement Ratio"");",,,,,,
b. 1 (One) equity shares of Rs.10/- each fully paid up to the shareholders of the Transferor company-II (other than Transferee Company), whose name(s) appear in the Register of",,,,,,
Members of the Transferor company-II as on the record date or to the heirs, executers, administrators or the successor's in-title of such shareholders in the ratio of 1:19.31, 19.31",,,,,,
(Nineteen Point Thirty one) equity shares of Rs.10/- each in the Transferee Company for every 01 (one) equity shares of Rs.10/- each in the Transferor company-II (""Transferor",,,,,,
companies Share Entitlement Ratio"");",,,,,,
c. 1 (One) equity shares of Rs.10/- each fully paid up to the shareholders of the Transferor company-III (other than Transferee Company), whose name(s) appear in the Register of",,,,,,
Members of the Transferor company-III as on the record date or to the heirs, executers, administrators or the successor's in-title of such shareholders in the ratio of 1:1.12, 1.12 (One",,,,,,
Point Twelve) equity shares of Rs.10/-each in the Transferee Company for every 01 (one) equity shares of Rs.10/- each in the Transferor company-III (""Transferor companies Share",,,,,,
Entitlement Ratio"");",,,,,,
d. Accordingly, every equity shareholder (other than the Transferee Company) holding shares in ""Transferor companies"" i.e. AAA Vehicleades Private Limited, Pathankot Vehicleades",,,,,,
Private Limited, J and K Vehicleades Private Limited shall become a shareholder of the ""Transferee Company i.e. Jamkash Vehicleades Private Limited by virtue of the merger of",,,,,,
Transferor Companies with Transferee Company pursuant to this Scheme. If any shareholder of ""Transferor companies"" becomes entitled to any fractional shares, entitlements or",,,,,,
credit on the issue and allotment of equity shares, the Transferee Company shall not issue fractional share certificates to such shareholder. Such fractional entitlements shall be",,,,,,
ignored.â€,,,,,,
(xi) The terms of Amalgamation will be as below:,,,,,,
“i. The transfer of the Transferee Company of the whole or any part of the undertaking, property or liabilities of the transferor companies from a date to be determined by the parties",,,,,,
unless the Tribunal, for reasons to be recorded by it in writing, decides otherwise;",,,,,,
ii. the allotment or appropriation by the transferee Company of any shares, debentures, policies or other like instruments in the Company which, under the compromise or arrangement,",,,,,,
are to be allotted or appropriated by that company to or for any person:,,,,,,
Provided that a transferee Company shall not, as a result of the compromise or arrangement, hold any shares in its own name or in the name of any trust whether on its behalf or on",,,,,,
behalf of any of its subsidiary or associate companies and any such shares shall be cancelled or extinguished;,,,,,,
iii. the continuation by or against the transferee company of any legal proceedings pending by or against any transferor companies on the date of transfer;,,,,,,
iv. dissolution, without winding-up, of the transferor Companies;",,,,,,
v. where share capital is held by any non-resident shareholder under the foreign direct investment norms or guidelines specified by the Central Government or in accordance with any,,,,,,
law for the time being in force, the allotment of shares of the transferee company to such shareholder shall be in the manner specified in the order;",,,,,,
However, in the present scheme of merger/amalgamation, there is no non-resident shareholder.",,,,,,
vi. the transfer of the employees of the transferor companies to the Transferee Company;,,,,,,
vii. where the transferor companies are dissolved, the fee, if any, paid by the transferor companies on its authorised capital shall be set-off against any fees payable by the transferee",,,,,,
company on its authorised capital subsequent to the amalgamation. The Authorised Capital of the Transferee Company/Applicant Company-IV after the sanctioning of the scheme of,,,,,,
merger/amalgamation by the Hon'ble National Company Law Tribunal shall be Rs.23,20,00,000/- (Rupees Twenty Three Crore and Twenty Lacs Only) divided into 2,32,00,000/- (Two",,,,,,
Crore Thirty Two Lakh Only) Equity Shares of Rs.10/-(Rupees Ten Only) each i.e. combined authorised capital of the companies involved in the scheme of merger/amalgamation; and,,,,,,
viii. such incidental, consequential and supplemental matters as are deemed necessary to secure that the merger or amalgamation is fully and effectively carried out:",,,,,,
ix. Where an order under this section provides for the transfer of any property or liabilities, then, by virtue of the order, that property shall be transferred to the transferee company and",,,,,,
the liabilities shall be transferred to and become the liabilities of the transferee company and any property may, if the order so directs, be freed from any charge which shall by virtue of",,,,,,
the compromise or arrangement, cease to have effect.â€",,,,,,
(xii) The Statutory Auditors of the Applicant Companies have issued the certificate to the effect that the accounting treatment proposed in the Scheme of merger/,,,,,,
amalgamation of the Applicant Companies is in conformity with the Accounting Standard prescribed under Section 133 of the Companies Act, 2013 read with Rule 7",,,,,,
of the Companies (Accounts) Rules, 2014, which have been annexed with the Application as Annexure A-14, Annexure A-27, Annexure A-40 and Annexure A-53 for",,,,,,
the Applicant No. 1, 2, 3 and 4 respectively.",,,,,,
(xiii) The present scheme would be in the best interest of the Transferor Companies and Transferee Company and their respective shareholders, public interest and",,,,,,
others.,,,,,,
(xiv) The Scheme is does not intend in any manner, to have any beneficial effect on the material interest, if any, of the Directors of the Applicant Companies, except to",,,,,,
the extent of their shareholdings in the Transferee Company, if any.",,,,,,
(xv) The Directors of all the Applicant Companies and also their relatives have no material interests in the proposed Scheme of Amalgamation/ Merger except for,,,,,,
commonality in shareholding. The Directors and Key Managerial Personnel of the Applicant Companies shall not be deemed to be interested in the proposed Scheme,,,,,,
save to the extent of the shares held by them in the applicant companies, if any.",,,,,,
(xvi) No proceedings under Sections 235 to 251, 397 and 398 of the Companies Act, 1956 and/ or Sections 206 to 229 and 241 of the Companies Act, 2013 have ever",,,,,,
been instituted against the Applicant Companies.,,,,,,
(xvii) The scheme of Amalgamation/merger does not intend in any manner, the reduction of share capital of the Applicant Companies or corporate debt restructuring",,,,,,
of any of the Applicant Companies pursuant to Section 230(2)(b) and (c) of the Companies Act, 2013, and hence a creditor's responsibility statement and other",,,,,,
requirements under Section 230(2)(c) are not applicable to the present case.,,,,,,
(xviii) The assets of the amalgamated company shall be sufficient to meet the liabilities of Transferor Companies.,,,,,,
(xix) The Applicant Companies are not governed by any of the Sectoral Regulators/ Authorities including CCI, IRDA, SEBI,Â",,,,,,
RBI or other authorities. Therefore, no notice is required to be issued to any sectoral regulator. The affidavit with regard to same is annexed with the application",,,,,,
as Annexure A-54.,,,,,,
(xx) The Applicant Companies have not filed any application, writ petition or suit before any other court covering the matter in respect of which the present petition",,,,,,
has been filed.,,,,,,
(xxi) As on 30.09.2021, Transferor Company No.1 has 04 equity shareholders, 02 secured creditors and 97 unsecured creditors representing amount of Rs.9,95,00,000/-,",,,,,,
Rs.1,06,78,63,150/- and Rs.39,74,02,241/- respectively and no preference shareholders. The lists of equity shareholders, secured creditors and unsecured creditors",,,,,,
dated 30.09.2021 certified by Chartered Accountant have been annexed with the Application as Annexure A-7, Annexure A-9 and Annexure A-11 respectively and",,,,,,
their consents by way of affidavits have been annexed with the Application as Annexure A-8, Annexure A-10 and Annexure A-12 respectively.",,,,,,
(xxii) As on 30.09.2021, Transferor Company No. 2 has 02 equity shareholders, 10 secured creditors and 95 unsecured creditors representing amount of Rs.57,00,000/-,",,,,,,
Rs.58,21,94,940/- and Rs.27,96,31,184.60/- respectively and no preference shareholders. The lists of equity shareholders, secured creditors and unsecured creditors",,,,,,
dated 30.09.2021 certified by Chartered Accountant have been annexed with the Application as Annexure A-19, Annexure A-22 and Annexure A-24 respectively and",,,,,,
their consents by way of affidavits have been annexed with the Application as Annexure A-20, Annexure A-23 and Annexure A-25 respectively.",,,,,,
(xxiii) As on 30.09.2021, Transferor Company No.3 has 03 equity shareholders, 03 secured creditors and 34 unsecured creditors representing amount of",,,,,,
Rs.2,18,25,000/-, Rs.15,85,06,810.11/- and Rs.2,31,97,330/- respectively and no preference shareholders. The lists of equity shareholders, secured creditors and",,,,,,
unsecured creditors dated 30.09.2021 certified by Chartered Accountant have been annexed with the Application as Annexure A-32, Annexure A-35 and Annexure A-",,,,,,
37 respectively and their consents by way of affidavits have been annexed with the Application as Annexure A-33, Annexure A-36 and Annexure A-38 respectively.",,,,,,
(xxiv) As on 30.09.2021, Transferee Company has 02 equity shareholders, 12 secured creditors and 70 unsecured creditors representing amount of Rs.9,77,88,250/-,",,,,,,
Rs.1,01,25,62,520.54 and Rs.33,75,54,250.99/-respectively and no preference shareholders. The lists of equity shareholders, secured creditors and unsecured creditors",,,,,,
dated 30.09.2021 certified by a Chartered Accountant have been annexed with the Application as Annexure A-45, Annexure A-48 and Annexure A-50 respectively",,,,,,
and their consents by way of affidavits have been annexed with the Application as Annexure A-46, Annexure A-49 and Annexure A-51 respectively.",,,,,,
(xxv) The Applicant Companies have prayed for dispensing with the requirement of convening the meetings of equity shareholders of Applicant No. 1, 2, 3 and 4 in",,,,,,
view of the fact that all of their equity shareholders have consented to the waiver of the meetings to be convened for sanctioning of the Scheme, subject to necessary",,,,,,
directions of the Tribunal.,,,,,,
Name of the Applicant
Companies",Equity Shareholders,,Secured Creditors,,Unsecured Creditors,
,"Total
Number","Consents on
Affidavits","Total
Number","Consents on
Affidavits","Total
Number","Consents on
Affidavits
Applicant No. 1/
Transferor
Company No. 1",4,"4 constituting
100%
of shareholding",2,"2 constituting
100% in value",97,"76 constituting
99.32% in value
Applicant No. 2/
Transferor
Company No. 2",1,"1 constituting
100%
of shareholding",10,"9 constituting
95.87% in value",95,"63 constituting
93.72% in value
Applicant No. 3/
Transferor
Company No. 3",3,"3 constituting
100%
of shareholding",3,"3 constituting
100% in value",34,"25 constituting
92.34% in value
Applicant No. 4/
Transferee
Company",2,"2 constituting
100%
of shareholding",12,"11 constituting
95.80% in value",70,"50 constituting
98.68% in value
10. A copy of this order be supplied to the learned counsel for the Applicant Companies..,,,,,,
