IN RE Vs. ACCELARIS TECHNOLOGIES LTD AND ORS

JUDGEMENT

(1.) By this joint petition under Section 230 to 232 of the Companies Act, 2013, the petitioners are seeking sanction of a scheme of amalgamation between Accelaris Technologies Limited (Transferor Company) and Major Metfab and Equipment Private Limited (Transferee Company) and their respective shareholders and creditors ("Scheme" for short).

(2.) The petitioner companies herein, i.e. Accelaris Technologies Limited and Major Metfab and Equipment Private Limited, had filed a joint application, being CA (CAA) No. 83 of 2017, before this Tribunal seeking dispensation of meetings of equity shareholders of both the petitioner companies and meeting of unsecured creditors of the petitioner transferee company in respect of the Scheme of amalgamation between the transferor company and the transferee company and their respective shareholders and creditors. This Tribunal, vide its order dated 25th July, 2017, dispensed with convening and holding of the meetings of the equity shareholders of both the petitioner companies and unsecured creditors of the petitioner transferor company. This Tribunal also observed that as both the companies do not have any secured creditor, there was no need to hold meetings of secured creditors of the companies.

(3.) This Tribunal also directed the petitioner companies to issue statutory notice in Form No. CAA. 3 to (i) the Central Government through the Regional Director, North Western Region; (ii) the Registrar of Companies, Gujarat; (iii) the Income-tax authorities; and in the case of the petitioner transferor company (iv) the Official Liquidator asking them to make representations, if any, within a period of 30 days from the date of receipt of such notice, and in case no representation is received by the Tribunal within the stipulated period of 30 days, it should be presumed that the authorities have no representation to make.