9911796707
TMI Blog2022 (11) TMI 508X X X X Extracts X X X X X X X X Extracts X X X X ..... ies is required to be convened. Further, the meetings of the shareholders of both the applicant companies are dispensed with considering the consent affidavit furnished by the applicant companies. Application allowed. - CA(CAA)/12/MP/2021 - - - Dated:- 14-10-2022 - Dr. M. B. Gosavi , Member ( J ) And Kaushalendra Kumar Singh , Member ( T ) For the Appellant : Rajesh Jain , Learned PCA ORDER 1. This joint application is filed by the applicant companies under Section 230-232 of the Companies Act, 2013, namely M/s. Kwantum Devcon and Allied Limited (Applicant Transferor Company) and M/s. Kuber Lightning Private Limited (Applicant Transferee Company) for dispensation of the meeting of shareholders and creditors of both the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne Nagar, Indore, Madhya Pradesh-452018. Applicant transferee company is carrying on business relating to manufacturers, producers, processors servicing, importers, exporters, buyers, sellers and dealers in all kinds of lights and there components such as all types of electric lamps, caps, filaments, lead and buyers, dies, chemical, tungsten etc. The Authorized Share Capital of the applicant resulting company is Rs. 5,10,00,000/- divided into 5,10,000 equity shares of Rs. 100/- each. The issued and subscribed share capital is Rs. 3,58,00,000/- divided into 3,58,000 equity shares of Rs. 100/- each. 5. Submissions made by the applicant companies in its application and presented by the learned PCA are summarized here as under: i. Consid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as per the audit report placed on record by the applicant companies the details of Shareholders, Secured Creditors, and Un-Secured Creditors are as follows: i. The applicant transferor company has 7 shareholders. ii. The applicant transferee company has 2 shareholders. iii. The applicant transferor company does not have any secured/unsecured creditors. iv. The transferee company does not have any creditors, except loan taken from its 100% holding company being M/s. Kwantum Devcon Allied Limited of Rs. 4,55,00,000/-. 7. The Ld. PCA in application contended with respect to the dispensation and convening of the meetings of the creditors and shareholders of the applicant companies as under: i. This Tribunal may plea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shareholders of both the applicant companies are dispensed with considering the consent affidavit furnished by the applicant companies. 9. In compliance with sub-section (5) of Section 230 and Rule 8 of the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016, the Applicant Companies shall send a notice in Form No. CAA. 3 along with disclosures mentioned under Rule 6 to, (i) The Central Government through the Regional Director, North-Western Region, (ii) the Registrar of Companies, Gwalior, (iii) Official Liquidator and (iv) The Income Tax Authorities concerned, stating that the representation, if any, to be made by them shall be made within a period of 30 days from the date of receipt of such notice, failing which it sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
