It is the pleaded case of transferor company No.3, petitioner in C.P.No.261 of 2013, that it was incorporated on 04.11.2009, that its authorized share capital is Rs.50,00,000/- divided into 5,00,000 equity shares of Rs.10/- each and that its issued, subscribed and paid up capital is Rs.41,52,096/- divided into 3,94,012 equity shares of Rs.10/each fully paid up and partly paid up capital of Rs.2,11,976/- divided into 1,05,988 equity shares of Rs.10/- each partly paid up of Rs.2/each. That its main objects are to take over the business of partnership firm in the name of M/s. Metal Treatment Systems converted into a private limited company under part IX of the Act, to carry on the business of dealers, agents, importers, distributors, stockists of raw materials required for the aforesaid processes etc. It has further pleaded that its Board of Directors, by resolution dated 26.04.2013, has approved the proposed scheme of amalgamation, by fixing 01.04.2012 as the appointed date, that all its shareholders have submitted their consent affidavits for the proposed scheme of arrangement in Company Application No.1094 of 2013, wherein this Court has dispensed with the requirement of holding their meeting vide its order dated 06.11.2013, and that it has no secured or unsecured creditors.
