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TMI Blog2021 (8) TMI 1105X X X X Extracts X X X X X X X X Extracts X X X X ..... (J) And Harish Chander Suri, Member (T) For the Appellant : Manju Bhuteria, Aisha Amin, Advocates, N. Gurumurthy and Madan Kumar Maroti, FCAs ORDER Harish Chander Suri, Member (T) 1. It is submitted by the Ld. Counsel for the Applicants that the Company Application CA 105/KB/2021 in Company Application C.A.(CAA) No. 86/KB/2021 is an application filed by the Applicants for payment and closure of Secured Creditors of Applicant No. 8 which was made after the filing of Company Application. 2. The instant application has been filed in the first stage of the proceedings under Section 230(1) read with Section 232(1) of the Companies Act, 2013 ( Act ) for orders and directions with regard to meetings of shareholders and creditor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of PREFERENCE SHAREHOLDERS : NIL Number of SECURED CREDITORS : NIL as on 31st January, 2021 Number of UNSECURED CREDITORS : 9 as on 31st January, 2021 b. APPLICANT No. 2 Number of EQUITY SHAREHOLDERS : 7 as on 31st January, 2021 Number of PREFERENCE SHAREHOLDERS : NIL Number of SECURED CREDITORS : NIL as on 31st January, 2021 Number of UNSECURED CREDITORS : 2 as on 31st January, 2021 c. APPLICANT No. 3 Number of EQUITY SHAREHOLDERS : 2 as on 31st January, 2021 Number of PREFERENCE SHAREHOLDERS : NIL Number of SECURED CREDITORS : NIL as on 31st January, 2021 Number of UNSECURED CREDITORS : 3 as on 31st January, 2021 d. APPLICANT No. 4 Number of EQUITY SHAREHOLDERS : 3 as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 92% in value of Unsecured Creditors of the Applicant No. 1 have already given their consent to the Scheme by way of affidavits, which are annexed, to the application. 7. It is further submitted that 99.91% in value of Unsecured Creditors of the Applicant No. 2 have already given their consent to the Scheme by way of affidavits, which are annexed, to the application. 8. It is further submitted that 99.76% in value of Unsecured Creditors of the Applicant No. 3 have already given their consent to the Scheme by way of affidavits which are annexed to the application. 9. It is further submitted that 99.93% in value of Unsecured Creditors of the Applicant No. 4 have already given their consent to the Scheme by way of affidavits which are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tors of Applicant Companies who have already given their consent to the Scheme and for recording that there is no requirement of meeting of Secured Creditors of the Applicant Companies in view of NIL creditors verified by auditors certificate. 17. Upon perusing the records and documents in the instant proceedings and considering the submissions made on behalf of the Applicants, we allow the instant application and make the following orders:- a. Meetings dispensed: Meeting of Equity Shareholders of the Applicant Companies for considering the Scheme of Amalgamation are dispensed with in view of all shareholders of Applicant Companies having respectively given their consent to the Scheme by way of affidavits. Meeting of Unsecu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng of Unsecured Creditors of Applicant No. 7 for considering the Scheme of Amalgamation are dispensed with in view of consent by way of affidavits by Unsecured Creditors representing 93.85% in value of Unsecured Creditors of Applicant No. 7. Meeting of Unsecured Creditors of Applicant No. 8 for considering the Scheme of Amalgamation are dispensed with in view of consent by way of affidavits by Unsecured Creditors representing 100% in value of Unsecured Creditors of Applicant No. 8. b. No requirement of Meetings Secured Creditors of Applicant No. 1 to 7 NIL Creditors verified by auditors certificate. Secured Creditors of Applicant No. 8 being paid and account closure cum no due certificate issued by the Secured Creditor. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... affidavit proving service of notices of meeting(s) and publication of advertisement and compliance of all directions contained herein at least a week before the meeting(s) to be held. 20. The Company Application Comp.Appl.105/KB/2021 is allowed and disposed of. 21. That the prayer made by the Applicant Companies in Company Application (CAA) No. 86/KB/2021 in Paragraph No. 8, Paragraph No. 9, Paragraph No. 10, Paragraph No. 11, Paragraph No. 12, Paragraph No. 13 and Paragraph No. 14 stands deleted. 22. The application being Company Application (CAA) No. 86/KB/2021 is disposed of accordingly. 23. Urgent certified copy of this order, if applied or, be supplied to the parties, subject to compliance with all requisite formalities. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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