IN RE Vs. BRILLIANT ESTATES LTD

JUDGEMENT

(1.) By this application under Sections 230-232 of the Companies Act, 2013, the applicant company is seeking dispensation of meeting of equity shareholders and directions for holding meetings of secured and unsecured creditors of the applicant company in respect of a composite scheme of amalgamation of Brilliant Retail Private Limited (Transferor Company-1) and Brilliant Reality Private Limited (Transferor Company-2) and Bharti Trades and Agencies Private Limited (Transferor Company-3) and North West Automobiles M.P. Private Limited (Transferor Company-4) and Shri Venktesh Entertainment Private Limited (Transferor Company-5) and Navin Chitra Pictures & Builders Private Limited (Transferor Company-6) and Kulthana Valley Projects Private Limited (Transferor Company-7) and Solitaire Club Private Limited (Transferor Company-8) and Vaishnavi Insurance Consultants Private Limited (Transferor Company-9) and Brilliant Technology and Constructions Private Limited (Transferor Company-10) with Brilliant Estates Limited (Transferee Company) and their respective shareholders and creditors ("Scheme" for short).

(2.) The Applicant is an unlisted public limited company. Issued, subscribed and paid up equity share capital of the applicant company is Rs. 6,62,56,000/-.

(3.) The Board of Directors of the applicant company has approved the Scheme in the meeting of the Board held on 24th August, 2017. A copy of the resolution of the Board of Directors of the applicant company is produced at Annexure A-6.