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TMI Blog2018 (10) TMI 1904X X X X Extracts X X X X X X X X Extracts X X X X ..... evity 'The Rules') in relation to the Scheme of Amalgamation (for brevity the "SCHEME") proposed amongst the applicants. The said Scheme is also annexed [Annexure "A"]. In terms of Sections 230 and 232 of the 2013 Act following prayers have been made for orders:- "1. Dispensing with requirement for convening the meeting of the equity shareholders of the transferor companies and also to dispense with the requirement of issue and publication of notices for the same; 2. Issuing/ passing necessary Directions/Order as it may deem fit for the purpose of convening the meeting of the unsecured creditors and members or any class thereof of the transferor company including the requirement of issue and publication of notices for the same; 3. Iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... diction of this Tribunal and fall within domain of Registrar of Companies, NCT, New Delhi. 4. In relation to the Applicant Company No. 1 in the Scheme, it has been represented that company has three Equity Shareholders, no Secured Creditor and no Unsecured Creditor. All the shareholders have given their consents in the form of affidavits to the proposed Scheme. In relation to the Shareholders and Creditors Applicant Company seeks a direction for dispensing with the convening and holding of meetings for the purpose of obtaining their approval to the proposed Scheme. 5. In relation to the Applicant Company No. 2 in the Scheme, it has been represented that company has three Equity Shareholders, no Secured Creditor and one Unsecured Cre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne Crores only divided into Ten Lakhs equity shares of Rs. Ten each. The paid-up share capital of the Company is Rs. Sixty One Lakhs only divided into Six Lakh Ten Thousand equity shares of Rs. Ten each. 10.Applicant Company No. 2 was incorporated in the state of Delhi under the provisions of Companies Act, 1956 on 08.03.1991 under the name "VKG ELECTRONICS PRIVATE LIMITED". The authorised share capital of the Amalgamating Company is Rs One Crores only divided into Ten Lakhs equity shares of Rs. Ten each. The paid-up share capital of the Company is Rs. Forty- Eight Lakhs only divided into Four Lakh eighty Thousand equity shares of Rs. Ten each. 11.Applicant Company No.3 was incorporated in the state of Delhi under the provisions of Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... obviated. iii. With respect to Unsecured Creditors: Since it is represented that there is no Unsecured Creditor in the Company, the necessity of convening and holding a meeting is obviated. B. In relation to the Applicant Company No.2 : i. With respect to Shareholders: It is represented by the Applicant Company that there are 3 Shareholders in the Company all of whom have placed their consents in the form of affidavits. Therefore the necessity of convening and holding a meeting is obviated. ii. With respect to Secured Creditors: Since it is represented that there is no Secured Creditor in the Company, the necessity of convening and holding a meeting is obviated. iii. With respect to Unsecured Creditors: Since it is represent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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