IN RE Vs. MANTRI PROPERTY DEVELOPERS PRIVATE LIMITED

JUDGEMENT

(1.) Originally this Company Application was filed before the Hon'ble High Court of Karnataka by the Applicant Company under Section 391 of the Companies Act, 1956, being numbered as C.A. No. 630/16. Subsequently as per Notification No. GSR. 1119 (E) : MANU /DCAF/0145/2016 dated 7th December, 2016 issued by Ministry of Corporate Affairs, New Delhi, the said case is transferred to this Tribunal and renumbered as T.P. No. 298/17.

(2.) This Company Application is filed on behalf of the Applicant Company under Section 391 of the Companies Act, 1956, praying to order for dispensing with for convening of the Meeting of Equity Shareholders and Unsecured Creditors of the Applicant/Transferor Company and convening of separate meeting(s) of Secured Creditor for considering the Scheme of Amalgamation, where under the Applicant Company Mantri Property Developers Private Limited which is Transferor Company No. 3 to be merged with Mantri Developers Private Limited (Transferee Company). The Scheme of Amalgamation shown as Annexure-A.

(3.) The averments made in the Company Application are briefly described hereunder:-