IN RE Vs. PREMIER PLASMOTEC PVT LTD

JUDGEMENT

(1.) This company petition has been filed by the Petitioners for sanction of the Scheme and for fixing a date of hearing of the main Company Petition as well as for a direction in relation to publication in press to be effected and notices to be issued to the authorities concerned in relation to date of hearing of the petition and calling for the objections, if any, to the Composite Scheme of Arrangement by way of amalgamation (hereinafter for brevity referred to as 'Scheme') contemplated between the Petitioner Companies.

(2.) From the record, it is seen that the first motion application seeking directions for dispensing with the meetings of equity shareholders, secured and unsecured creditors of the Transferor and Transferee Companies or in the alternate to call and convene the meeting of shareholders, secured and unsecured creditors was filed before this Tribunal vide company application number CA(CAA) 13/Chd/Hry/2017 and based on such joint application moved under Sections 230-232 of the Companies Act, 2013, (for brevity, the 'Act') necessary directions were issued on 18.09.2017, wherein the meetings of shareholders of both the companies were dispensed with as consent affidavits had been obtained by the shareholders of Transferor as well as Transferee Company. In relation to the secured creditors and trade creditors of the Transferor and Transferee Company, the meetings were directed to be convened by the Tribunal vide order dated 18.09.2017.

(3.) In compliance with the directions issued by this Tribunal, the petitioner companies have held meetings on 18.11.2017 for which Chairperson, Alternate Chairperson and the Scrutinizer were appointed and they have also filed reports as detailed hereunder:-. Meeting of Chairperson / Alternate Chairperson/ Scrutiniser appointed by Court Chairpersons report Date of Date of Report Filing Secured Creditors and Trade Creditors of Transferor Company Mr.Justice (Retd) Gurdev Singh, Mr.Siddharth Mittal 18.11.17 23.11.17 (Advocate) and Mr.Rajesh Gupta, Scrutinizer. Secured Creditors and Mr.Justice (Retd) 18.11.17 23.11.17 Trade Creditors of Gurdev Singh, Transferee Company Mr.Siddharth Mittal (Advocate) and Mr.Rajesh Gupta, Scrutinizer.