IN RE Vs. M B STONE PVT LTD

JUDGEMENT

(1.) Learned Advocate Ms. Vaibhavi Parikh present for Petitioner.

(2.) The Petitioner of T.P. No. 59 of 2017, i.e. HMS Construction Private Limited, had filed an application in the Hon'ble High Court of Gujarat, being Company Application No. 465 of 2016, seeking dispensation of the meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors of the said Company. The Hon'ble High Court, vide order dated 20th October, 2016 dispensed with the convening and holding of the meeting of the Equity Shareholders, Secured Creditors and Unsecured Creditors of the Petitioner Company in view of the consent letters given by the Equity Shareholders, Secured Creditors and Unsecured Creditors of the Petitioner Company.

(3.) The Petitioner of T.P. No. 60 of 2017, i.e. M.B. Stone Private Limited, had filed an application in the Hon'ble High Court of Gujarat, being Company Application No. 464 of 2016, seeking dispensation of the meeting of the Equity Shareholders of the said Company. The Hon'ble High Court, vide order dated 20th October, 2016 dispensed with the convening and holding of the meeting of the Equity Shareholders of the Petitioner Company in view of the consent letters given by the Equity Shareholders of the Petitioner Company. The Hon'ble High Court vide its aforesaid order dated 20th October, 2016 also ordered that as the rights and interests of the Creditors of the Petitioner Transferee Company are not likely to be prejudicially affected, the approval of the Creditors of the Transferee Company is not necessary and was thus dispensed with.