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NEW DELHI: Realty major DLF Home Developers is planning to amalgamate group companies DLF Estate (Delhi) Pvt Ltd and Irma Estate Pvt Ltd with itself and has moved the Delhi High Court to obtain the necessary approvals.

In their joint petition under section 391 and 394 of the Companies Act 1956, the companies sought statutory clearances from the high court to go ahead with the amalgamation process.

A single member Bench of Justice Mr Sudershan Kumar Mishra directed the companies to produce no objection certificates from their creditors within four days.

The direction came after the company informed that due to some reasons it could not produce the NoC issued by the IDBI Bank and sought adjournment of hearing.

On this, Justice Mr Mishra imposed a cost of Rs 5,550 on the company. “... permitted to do so subject to payment of cost of Rs 5,550 payable to the common pool of the official liquidator,” said the court directing filing of e the NoC in four days and dir ected to list the matter on July 8.

According to the petition, all the companies had obtained consent of their shareholders for the proposed amalgamation on May 14, 2005. – PTI

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