IN RE Vs. PARVATI SWEETNERS & POWER LTD

JUDGEMENT

(1.) By way of this petition under Sections 391 to 394 of the Companies Act, 1956 (Sections 230 to 232 of the Companies Act, 2013) , the petitioner is seeking sanction of a proposed Scheme of Amalgamation of Dollex Industries Limited (Transferor Company) with Parvati Sweetners and Power Limited (Transferee Company) and their respective shareholders and creditors (" Scheme" for short) .

(2.) The petitioner company had filed an application, being Company Petition No.42 of 2016, before the Honourable High Court of Madhya Pradesh, judicature at Jabalpur, Bench at Indore seeking dispensation of convening the meetings of equity shareholders and secured and unsecured creditors and also from i -m publication of notice in newspaper and gazette. The Honourable High Court of Madhya Pradesh, Bench at Indore, by order dated 8th November, 2016, was pleased to dispense with convening of r ' - meetings of shareholders, secured creditors and unsecured creditors of the petitioner company, in view of their consent letters. The Honourable High'Court was also pleased to dispense with publication of notice in newspaper and Madhya Pradesh Gazette.

(3.) The petitioner company thereafter filed a petition, being Company Petition No.46 of 2017, before the Honourable High Court of Madhya Pradesh, Bench at Indore, seeking sanction of the Scheme. Subsequently, the Honourable High Court, vide order dated 24.01.2017 transferred the aforesaid Company Petition to this Tribunal and it came to be renumbered as T.P. Nos. 75 of 2017.