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2015 (12) TMI 1722

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..... iness Support Services Private Limited (Demerged Company/ Petitioner Company I) and secured and unsecured creditors of the Quatrro Global Services Private Limited (Resulting 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 accordingly. The schem .....

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..... etition as at Annexure P-3 and at page 182 to 184, 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. Authorised share Capital 45,00,00,000 Equity Shares of ₹ 1 each 45,00,00,000/- Issued, Subscribed and Paid up share capital 17,57,41,071 Equity shares of ₹ 1 each 17,57,4 .....

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..... es, Chartered Accountants (Annexure P-6). There are two unsecured creditors of petitioner company I, as per list annexed at page 157. Both of them have given their consent to the scheme and their consent letters/ no objections are appended with the petition at pages 158 to 164. Resulting Company/Petitioner Company II is having forty eight (48) equity shareholders. There list is annexed at pages 404 and 405 of the petition. 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 at page 365. Both of them have given their consent to the scheme and their consent letters/ no o .....

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..... 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 02:00 PM For convening the meeting .....

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