IN RE Vs. TELENOR (INDIA) COMMUNICATIONS PRIVATE LIMITED

JUDGEMENT

(1.) This Company Petition filed by the Petitioners has been placed before us for admission and for fixing a date of hearing for final disposal of the main Company Petition; and also for issuance of a direction in relation to publication in press to be effected and notices to be issued to the authorities/ regulators concerned in relation to date of healing of the Petition and calling for the objections, if any, to the Scheme of Amalgamation (hereinafter for brevity referred to as "SCHEME") between the Petitioner Companies.

(2.) From the records, it is evident that the First Motion seeking direction for convening the meeting of Shareholders and Unsecured Creditors was filed before this Tribunal vide CA (CAA) No. 81 (PB) 2017 and based on joint application moved under Sections 230-232 of the Companies Act, 2013 directions were issued by the Tribunal on 28.07.2017 where in the meetings of Unsecured Creditors of the Transferor Company and Equity Shareholders & Unsecured Creditors of the Transferee Company were directed to be convened for the approval of the Scheme. In compliance with the directions issued by the Tribunal, the Petitioner Companies have held the meetings on 18.09.2017 & 19.09.2017 as contemplated by the First Motion Order and to that effect the Chairman(s) appointed by the Court has also filed a report as detailed hereunder: <FRM>JUDGEMENT_568_LAWS(NCLT)7_2017_1.html</FRM>

(3.) The reports of the Chairman show that the meetings were duly convened and the resolutions in relation to the Scheme have been passed with requisite majority. Subsequent to the order, now this petition on second motion is coining up before us for fixing a date of hearing as well as for other consequential directions in terms of provisions of Sections 230 to 232 of Companies Act, 2013 read with Rule 16 of the Companies (Compromise, Arrangements and Amalgamation) Rules, 2016 and it is now hereby ordered as follows:-