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TMI Blog2018 (4) TMI 1993X X X X Extracts X X X X X X X X Extracts X X X X ..... algamation of Safal Constructions Private Limited ("SCPL or "the Amalgamating Company") with BSafal Infraheights Private Limited ("BSIPL" or "the Amalgamated Company") and their respective shareholders ["Scheme" for short]. 2. The Petitioner Companies, i.e. Safal Constructions Private Limited and BSafal Infraheights Private Limited, had filed a joint Application, being CA (CAA) NO. 36 OF 2017, before this Bench of the National Company Law Tribunal ('NCLT' or 'Tribunal, seeking dispensation of the meetings of the Equity and Preference Shareholders of the Petitioner Amalgamating Company and Equity Shareholders, Secured Creditors and Unsecured Creditors of the Petitioner Amalgamated Company. This Hon'ble NCLT allowed the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The Official Liquidator has also filed representation in respect of the Amalgamating Company. 5. The Petitioner Companies then filed the present joint petition being Company Petition (CAA.) No. 63 of 2017, before this Tribunal seeking sanction of the Composite Scheme of Arrangement. During the pendency of the Petition the Petitioner Companies inter alia filed an Interlocutory Application seeking appropriate directions to conduct fresh meeting of Secured Creditors of the Amalgamating Company and this Tribunal vide order dated 17th January, 2018 allowed the said application. 6. This Tribunal by order dated 5th March, 2018, admitted the petitions and ordered that notice of hearing should be advertised in English daily "Indian Express", Ahm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of without prior permission of Central Government as per the provision of section 239 of the Companies Act, 2013; ii. That the Petitioner Companies shall ensure statutory compliance of all applicable laws and also on sanctioning of the present scheme, it shall not be absolved from any of its statutory liability, in any manner; iii. That the Petitioner Companies shall comply with Rule 17(2) of Companies (Compromise, Arrangements and Amalgamations) Rules, 2016 with respect to filing of order if any, for confirmation of the scheme in form INC-28 with the Registrar of Companies having jurisdiction over the Petitioner companies involved. 12. In response to the report of the Official Liquidator submitted, the Petitioner Companies have, by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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