9911796707
TMI Blog2015 (12) TMI 1713X X X X Extracts X X X X X X X X Extracts X X X X ..... s dispensed with. There is no secured creditor of Petitioner Company I. As far as the prayer of counsel for the petitioner regarding convening the meeting of Equity Shareholders of the petitioner company II, is concerned, the prayer is justified. Accordingly, it is directed that a meeting of Equity Shareholders of the Petitioner Company II be convened accordingly. The meeting shall be conducted strictly in accordance with law and after due notification/notice to all concerned including publication in the newspapers namely “Indian Express” (English) and “Jan Satta” (Hindi)”, both Delhi/NCR Editions, and publication in the Official Gazette of Government of Haryana. Notice of the meeting of the equity shareholders Petitioner company II s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner company I and the Petitioner Company II are set out in their Memorandum and Articles of Association which are annexed with the petition as at Annexure P-3 and Annexure P-10, respectively. The Board of Directors of the petitioner companies have approved the Scheme of Arrangement (Annexure P-1) in their meeting held on 1.12.2015 vide resolution Annexure P-2. As has been mentioned in the petition, the present share capital of the Petitioner Company I is as under:- Share capital Amount in Rs. Share Capital 12,00,00,000 Equity Shares of ₹ 1 each 12,00,00,000/- Issued, Subscribed and Paid up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... There is no secured creditors of petitioner company I as certified by Sharma Anurag Associates, Chartered Accountants (Annexure P-6). There are three unsecured creditors of petitioner company I, as per list annexed as Annexure P-7. All of them have given their consent to the scheme and their consent letters/ no objections are appended with the petition at pages 132 to 145. The Transferee Company/Petitioner Company II is having forty eight (48) equity shareholders. There list is annexed Annexure P-16. No consent of the equity shareholders has been produced by the Petitioner company II. A prayer has been made for holding their meeting. There are two secured creditors of the petitioner company II, as per list annexed as Annexure P-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Transferee Company/ Petitioner Company II) have given their consent to the Scheme of Arrangement, I do not find any reason to decline the prayer to dispense with their meeting. Accordingly, their meeting is dispensed with. There is no secured creditor of Petitioner Company I. As far as the prayer of counsel for the petitioner regarding convening the meeting of Equity Shareholders of the petitioner company II, is concerned, the prayer is justified. Accordingly, it is directed that a meeting of Equity Shareholders of the Petitioner Company II be convened as per following schedule:- Venue Date Time 119, Udyog Vihar, Phase-I, Gurgaon (Haryana) 23.1.2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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