The petitioner in C.P.No.93 of 2014 has pleaded that it was incorporated on 23.12.2002, that its authorised share capital is Rs.1,00,00,000/- divided into 10,00,000 equity shares of Rs.10/- each and that its issued, subscribed and paid up capital is Rs.1,00,00,000/divided into 10,00,000 equity shares of Rs.10/- each. That its main objects are to research, develop, manufacture, process, experiment, market by wholesale or retail, advertise, buy, sell, trade, import, export textile, readymade garments, yarn and fabrics; electrical and electronic products of all description etc. That its Board of Directors, by resolution dated 23.09.2013, has approved the proposed scheme of amalgamation, by fixing 01.04.2013 as the appointed date. The petitioner has further pleaded that all its shareholders have submitted their consent affidavits for the proposed scheme of amalgamation which were filed in Company Application No.404 of 2014, wherein this Court has dispensed with the requirement of holding their meeting vide its order dated 19.03.2014, and that it has no secured or unsecured creditors.
