IN RE Vs. VIZTEK TECHNOLOGIES PVT LTD

JUDGEMENT

(1.) These petitions have been filed by two petitioner-companies for sanctioning of an Arrangement in the form of Scheme of Amalgamation of Jekson Vision Private Limited (Transferor Company) with Viztek Technologies Private Limited (Transferee Company) ["Scheme" for short].

(2.) The petitioner of C.P.(CAA) No.7 of 2017, i.e. Jekson Vision Private Limited, had filed an application in the Honourable High Court of Gujarat, being Company Application No.533 of 2016, for dispensing with the convening and holding of the meetings of the equity shareholders and unsecured creditors of the said company. The Honourable High Court, vide its order dated 14th December, 2016, dispensed with the convening and holding of the meeting of equity shareholders of the petitioner-company in view of the consent in writing given by the equity shareholders. The Honourable High Court, vide its aforesaid order dated 14th December, 2016, also dispensed with the meetings of unsecured creditors of the petitioner-company.

(3.) The petitioner of C.P.(CAA) No.8 of 2017, i.e. Viztek Technologies Private Limited, had filed an application in the Honourable High Court of Gujarat, being Company Application No.534 of 2016, for dispensing with the convening and holding of the meetings of the equity shareholders and unsecured creditors of the said company. The Honourable High Court, vide its order dated 14th December, 2016, dispensed with the convening and holding of the meeting of equity shareholders of the petitioner-company in view of the consent in writing given by the equity shareholders. The Honourable High Court, vide its aforesaid order dated 14th December, 2016, also ordered that the petitioner-company, being the Transferee Company, the meeting of the creditors is not required to be held.