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TMI Blog2017 (6) TMI 189X X X X Extracts X X X X X X X X Extracts X X X X ..... 017 and the documents annexed thereto. 2. Welshop Trading Private Limited (hereinafter known as 'the Transferor Company' or 'the Applicant Transferor Company') and Welspun Steel Limited (hereinafter known as 'the Transferee Company' or 'the Applicant Transferee Company') have preferred this joint application under sections 230-232 of the Companies Act, 2013 seeking dispensation of the meetings of the equity shareholders, preference shareholders, secured creditors and unsecured creditors of both the Applicant Companies in respect of a Scheme of Amalgamation of the Transferor Company with the Transferee Company and their respective shareholders ("Scheme" for short) in the nature of the merger of Transferor Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts consenting to the proposed Scheme. 6. In view of the affidavits of all the equity shareholders, the meeting of equity shareholders of Welshop Trading Private Limited, the Applicant Transferor company, for the purpose of considering and, if thought fit, approving the proposed Scheme with or without modification(s), is dispensed with. 7. It is stated in the application that there are seven equity shareholders in the applicant Transferee Company. Original consent affidavits of all the equity shareholders are produced at Annexure "S". Certificate of Chartered Accountants of the transferee-company certifying that all the equity shareholders of the company have given their affidavits consenting to the Scheme is produced at Annexure "T". 8. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with or without modification(s) is dispensed with. 12. It is stated in the application that there are four secured creditors of the Transferee Company. The applicants have filed the original affidavits of 3 secured creditors with 94.36% in value at Annexure "W". Certificate of Chartered Accountant certifying the said fact is produced at Annexure "X". In view of the same, the meeting of secured creditors of Welspun Steel, the Applicant Transferee Company for the purpose of considering and, if thought fit, approving the proposed Scheme with or without modification(s) is dispensed with. 13. It is stated in the application that there is one unsecured creditor of the applicant transferor company. Original consent affidavit of the sole unsecure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Registrar of Companies, Gujarat, (iii) the Income Tax authorities, in respect of the transferor company and transferee company, (iv) the Official Liquidator concerned in respect of transferor company stating that representations, if any, to be made by them shall be made within a period of 30 days from the date of receipt of such notice, failing which it shall be presumed that they have no objection to make on the proposed scheme. The said notice shall be sent forthwith by registered post or by speed post or by courier or by hand delivery at the office of the authority as required by sub-rule (2) of Rule 8 of the Companies (CAA) Rules, 2016. The aforesaid authorities, who desire to make any representation under sub-section (5) of Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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