IN RE Vs. LIGARE VOYAGES LIMITED

JUDGEMENT

(1.) This is a second motion Petition which has come up before us for admission and for fixing a date of hearing of the main Company Petition as well as for issuance of direction concerning publication in press to be carried and notices to be issued to the authorities concerned including sectorial regulators if any. The prayer also is to fix date of hearing 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 seen that the First Motion petition seeking direction for convening the meeting of Shareholders and Unsecured Creditors was filed before this Tribunal being CA (CAA) No. 56 (PB) 2017 under Sections 230-232 of the Companies Act, 2013. In this petition directions were issued for convening of the meetings of Secured and Unsecured Creditors of the Petitioner Company No. 2/ Transferee Company for the approval of the Scheme vide order dated 31.05.2017. In compliance with the directions issued by the Tribunal, the meetings were held on 07.07.2017 and to which effect the Chairman(s) appointed by the Court has also filed a report as detailed hereunder: