IN RE Vs. GRM METALS PRIVATE LIMITED

JUDGEMENT

(1.) The Petitioner companies have approached this Tribunal for final disposal of the petition with a prayer for the approval of the Scheme of Amalgamation, as contemplated between the companies and its shareholders.

(2.) Initially the application seeking the directions for dispensing with the meetings of Shareholders, Secured and Unsecured creditors of the Petitioner Companies was filed before Hon'ble High Court of Delhi being CA No. 157/2016. The High Court vide order dated 10.02.2017 dispensed with the requirement of convening the meetings of the equity shareholders, secured and unsecured creditors of the petitioners companies in view of their consent affidavits having been obtained and placed on record or there was none therefore the necessity of convening the meeting did not arise.

(3.) The Petitioner Companies then filed a petition for being CAA/19/PB/2017 second motion before us. On 21.03.2017, we directed the Petitioner Companies to issue Notice in the Second Motion petition to the Registrar of Companies, Regional Director, Income Tax 4 Department, and all other sectoral regulators. The Petitioner Companies were also directed to carry out publication of notices in English Daily "Financial Express" (Delhi Edititon) and Hindi Daily 4 Jansatta' (Delhi Edition) . An affidavit has been filed by the Petitioner Companies confirming that notices were duly published in both the Newspapers on 12.04.2017. Further, the affidavit also discloses that copies of petition along with the copy of the Scheme were duly served on the Registrar of Companies, Regional Director, Northern Region, Income Tax Department and the Official Liquidator in compliance with the order dated 25.11.2016. the proof of acknowledging the receipt thereof made by the respective offices has also been enclosed,