PRASANNA POWER PRIVATE LIMITED Vs. NIL

JUDGEMENT

(1.) THIS application is filed for an order to dispense with the meetings of the shareholders, secured and unsecured creditors of the applicant -company for approving the scheme of amalgamation. The applicant -company (hereinafter referred to as 'the Transferor company No. 1', for brevity), was incorporated in 1998 under the name and style of 'Prasanna Power Private Limited', in the State of Karnataka to carry on the business of power generation by conventional, non conventional, thermal, solar, hydel wind and tidal waves. The registered office of the applicant -company is at 9, 3rd Floor, Shivashankar Plaza, Lalbagh Road, Richmond Circle, Bangalore -560 027.

(2.) THE Board of Directors of the applicant -company are said to have adopted and approved a scheme of amalgamation as on 1.8.2013 by virtue of which the applicant -company is proposed to be merged with Trinethra Energy Conversions Private Limited (hereinafter referred to as 'the Transferor Company No. 2', for brevity) and International Power Corporation Private Limited (hereinafter referred to as 'the Transferee Company', for brevity), subject to orders of this court.