LAWS(NCLT)-2017-11-682

IN RE Vs. DLF HOTEL HOLDINGS LTD

Decided On November 22, 2017
IN RE Appellant
V/S
DLF HOTEL HOLDINGS LTD Respondents

JUDGEMENT

(1.) Heard Mr. Kiran Shah, FCA, for the Applicant Companies.

(2.) This is a joint Application filed by DLF Hotel Holdings Limited (Applicant Transferor Company 1) ; and Lodhi Property Company Limited (Applicant Transferee Company) under Sections 230 to 232 and 234 of the Companies Act, 2013 [hereinafter referred to as 'the Act'] seeking dispensation of meetings of shareholders, secured creditors and unsecured creditors of the Applicant Companies in respect of a scheme of Amalgamation between DLF Hotel Holdings Limited ("Applicant Transferor Company 1) and DLF Global Hospitality Limited ("Non-Applicant Foreign Transferor Company 2") and Silverlink (Mauritius) Limited ("Non-Applicant Foreign Transferor Company 3") with Lodhi Property Company Limited ("Applicant Transferee Company") and their respective shareholders and creditors ("Scheme" for short) .

(3.) Applicant Transferor Company 1 and Applicant Transferee Company are closely held Public Limited Companies and having common Shareholders and Directors. The proposed Scheme provides for the transfer of the entire business of the Transferor Companies, as a "going concern", in accordance with the terms of the Scheme and pursuant to the provisions of Sections 230-232 and 234 of the Companies Act, 2013 read with Companies (Compromises, Arrangements"and Amalgamations) Rules, 2016, as amended.