IN RE Vs. AROHAN FINANCIAL SERVICES PRIVATE LIMITED

JUDGEMENT

(1.) A meeting of the equity shareholders of the Transferee Company be convened and held at its registered office at PTI Building, 4th Floor, Block DP, DP-9, Sector V, Salt Lake City, Kolkata-700 091 on Monday, the 4th day of December, 2017 at 11 a.m. (1100 hours), for the purpose of considering and if thought fit, approving with or without modification(s), the proposed Scheme of Arrangement between Intellecash Microfinance Network Company Private Limited (Transferor Company) and Arohan Financial Services Private Limited (Transferee Company) and their respective shareholders.

(2.) At least thirty (30) clear days before the meeting of the equity shareholders of the Transferee Company to be held as aforesaid, a notice convening such meeting at the place, day, date and time aforesaid, together with a copy of the Scheme of Arrangement, a copy of the Explanatory Statement required to be sent under Section 230 of the Companies Act, 2013 read with Rule 6 of the Companies (Compromises, Arrangements & Amalgamations) Rules, 2016, and the prescribed Form of Proxy, shall be sent by registered post or by courier or by speed post or by hand-delivery to each of the equity shareholders of the Transferee Company at their respective registered offices or at their last known addresses or by e-mail to the registered e-mail address of the equity shareholders, as per the records of the Transferee Company or can be obtained free of charge at the registered office of the Transferee Company.

(3.) The quorum for the aforesaid meeting of the equity shareholders of the Transferee Company shall be 2 (two) persons present and voting, as prescribed under Section 103 of the Companies Act, 2013. In the event, quorum of the meeting is not present within half an hour of the appointed time of such meeting, then the meeting shall be adjourned by a period of half an hour from the time appointed for holding the meeting, and those present shall constitute the quorum. For the purpose of computing the quorum, valid proxies shall also be considered.