9911796707
TMI Blog2021 (11) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... rectification, the Applicant Companies are seeking review of the aforesaid direction which is not permissible under the Companies, Act 2013. Since this Tribunal as well as the Appellate Tribunal have time and again held that this Tribunal is having no power to review its own order. The remuneration of Chairman, Alternate Chairman and Scrutinizer of each of the meetings is fixed at ₹ 1,00,000/- only each. That since the number of shareholders is quite high, both the chairman and alternate chairman shall work together for facilitating conduct of the meeting - That the date of the Shareholders meeting as well as the meeting of the unsecured creditors of the Transferee Company is modified to 16.12.2021 at the same time as mentioned in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us in the 'affidavit seeking direction for convening the meeting of equity shareholders and unsecured creditors of Transferee Company' filed vide e-filing No. 071010203821202 on 05.07.2021. ii) It is mentioned in para 15(i) that, the notices in this regard shall be sent by Courier or Registered Post or Speed Post and E-mail addressed to each of the shareholders of the Transferee Company at the last known address and their e-mail addresses as per its records , whereas we understand that the word and should be replaced with 'or' and accordingly, it should be the notices in this regard shall be sent by Courier or Registered Post or Speed Post or Email addressed to each of the shareholders of the Transferee Company at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are required to be convened only for Equity shareholders and unsecured creditors of Transferee Company as per the directions given in Para no. 14 of the said order, that 99.83% in value of the secured creditors of the Transferee Company have given 'no objection' to the Scheme on an affidavit, the requirement of convening the meeting of Secured creditors of the Transferee Company is dispensed with . 5. As regards the prayer for modification, it has been pointed out by the Applicants that this Tribunal has not fixed the remuneration of Chairman, Alternate Chairman and Scrutinizer. Additionally, the following modification is sought by the Applicant Companies: ii. It is mentioned in para 15(ii) that, the Quorum for the meeti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : 154. Rectification of Order.- (1) Any clerical or arithmetical mistakes in any order of the Tribunal or error therein arising from any accidental slip or omission may, at any time, be corrected by the Tribunal on its own motion or on application of any party by way of rectification. 8. That from the conjunct reading of Section 420(2) of Companies Act 2013 with Rule 154 of NCLT Rules 2016, it is observed that this Tribunal has jurisdiction only to rectify any mistake or error arising out of any accidental slip or omission, which is apparent on the face of record. 9. That it is submitted by the Applicant Companies that this Tribunal has not taken note of the venue of the meeting of Equity Shareholders, which was suggested to be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13. That we had noticed that there are 44,001 shareholders in the Transferee Company and the quorum prescribed of 440 shareholders comes to 10% of the total strength of the shareholders. That we hold that this Bench has fixed the minimum quorum consciously, which cannot be termed as a mistake apparent on the face of record. That under the garb of modification and rectification, the Applicant Companies are seeking review of the aforesaid direction which is not permissible under the Companies, Act 2013. Since this Tribunal as well as the Appellate Tribunal have time and again held that this Tribunal is having no power to review its own order. Therefore, we are not inclined to modify the direction issued as regards to the quorum of the meeting ..... X X X X Extracts X X X X X X X X Extracts X X X X
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