IN RE Vs. ASPENPARK INFRA COIMBATORE PVT LTD

JUDGEMENT

(1.) Heard learned Advocate Ms. Dharmishta Raval for Raval & Raval Advocate.

(2.) Aspenpark Infra Coimbatore Private Limited, Applicant Resulting Company-1 and Aspen Infra Padubidri Private Limited, Applicant Resulting Company-2 and AspenPark Infra Vadodara Private Limited, Applicant Resulting Company-3 have jointly filed this joint application seeking dispensation of the meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors of the Applicant Companies in respect of a Composite Scheme of Arrangement between Aspen Infrastructures Limited ("Demerged Company or AIL") and AspenPark Infra Coimbatore Private Limited ("Resulting, Company 11") and Aspen Infra Padubidri Private Limited ("Resulting Company-2") and AspenPark Infra Vadodara Private Limited ("Resulting Company- K 3") and their respective shareholders with effect from the Appointed Date on the agreed terms and conditions as set out in the scheme annexed at Annexure - J in accordance with Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions of the Act.

(3.) The Boards of Directors of Applicant Resulting Companies 1, 2 and 3 in the meeting held on 23rd October, 2017, passed a resolutions approving the proposed Scheme placed before the Boards by their respective Company Secretaries. The Applicant Resulting Companies 1, 2 and 3 have filed their audited balance sheet as well as Certificates dated 02.11.2017 issued by their Chartered Accountants certifying compliance with Section 133 of the Companies Act, 2013.