2016 (4) TMI 1258

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..... - Company Application No. 187 of 2016 - - - Dated:- 22-4-2016 - Honourable Smt. Justice Abhilasha Kumari Mrs Swati Soparkar, Advocate for the Applicant. ORAL ORDER 1. A Scheme of Arrangement, in the nature of Demerger and Transfer of the Investment Business of SPS Share Brokers Private Limited to Khandwala Enterprise Private Limited, is proposed under Sections391 to 394 of the .....

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..... th the Application as Exhibit D . The certificate confirming the status of the Shareholders as well as the receipt of the consent letters from all the Shareholders, is annexed as Exhibit E . In view of the same, dispensation is sought from convening the meetings of the Equity Shareholders of the Applicant Company. Considering the facts and circumstances and the submissions advanced, the same is, .....

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..... 0.02 Crores. In view of the above, it has been submitted that the approval of the creditors to the proposed Scheme of Arrangement is not necessary. 6. It has been further submitted that notwithstanding the above contention, in compliance with the contractual terms of the loan agreements with the Secured Creditor, the Applicant Company shall obtain the approval from its Secured Creditor and plac .....

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