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TMI Blog2012 (11) TMI 207X X X X Extracts X X X X X X X X Extracts X X X X ..... be adjourned for 30 minutes and thereafter, the persons present in the meetings would be treated as proper quorum & for the purpose of computing the quorum the valid proxies shall also be considered. Both the Companies will publish advance notice of the aforesaid proposed meetings in “Business Standard” (English Delhi Edition) and “Dainik Bhaskar” (Hindi Delhi Edition) minimum 21 days in advance before the Scheduled date of meeting & Individual notice too to be sent by ordinary post minimum 21 days in advance - The Chairpersons/Alternate Chairpersons shall file their reports within two weeks of the conclusion of the respective meetings. - CO.A(M) No. 159 of 2012 - - - Dated:- 12-10-2012 - Ms. INDERMEET KAUR J. Through: Mr. Amar G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d with the application. 5 Mr. Gupta, Ld. Counsel for the Applicant Company submits that no proceedings under Section 235 to 251 of the Act are pending against the Applicant Company as on the date of filing of the present application. 6 The proposed scheme has been approved by both the Transferor and the Transferee Company. A copy of the Board Resolution of the Applicant Company has also been placed on the record along with this application. 7 As stated above since the Registered Office of the Transferor Company is situated at Chennai, it has been stated that the High Court of Judicature at Madras vide its order dated August 29, 2012, dispensed with the requirement of holding the requisite meetings (including the meeting of the shareho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by all the shareholders, the requirement of convening the meeting of the shareholders is dispensed with. There are nil secured creditors of the Transferee Company, therefore, the requirement of convening the meeting of secured creditors does not arise. 11 There are 195 unsecured creditors as on November 30, 2011, representing the total unsecured debt of Rs. 2,25,77,260/-. Out of the said unsecured creditors, the Petitioner has received the written consents/NOCs from 105 unsecured creditors. These consents letters constitute 55% in number and 83.15% in value. In support of the aforesaid consents letters, only six unsecured creditors representing 26.33% of the aforementioned unsecured debt have given the Board Resolutions along with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is properly maintained. 15 The Transferor and the Transferee Companies are also directed to publish advance notice of the aforesaid proposed meetings in Business Standard (English Delhi Edition) and Dainik Bhaskar (Hindi Delhi Edition). The advertisement shall be published minimum 21 days in advance before the Scheduled date of meeting. 16 Individual notice of the proposed meetings would be sent by ordinary post minimum 21 days in advance before the scheduled date of meeting. The Chairperson will ensure that dispatch is made under his/her supervision or their authorised representatives. The Chairpersons and Alternate Chairpersons appointed for the meetings will be at liberty to issue suitable directions to the management are conduct ..... X X X X Extracts X X X X X X X X Extracts X X X X
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