IN RE Vs. SANOH INDIA PRIVATE LIMITED

JUDGEMENT

(1.) This Company Petition filed by the Petitioners is coming before us for admission and for fixing a date for hearing for the final disposal of the application as well as for a direction for publication to be effected and issuance of notices to the concerned authorities for objections, if any, to the Composite Scheme of Amalgamation (hereinafter for brevity referred to as "SCHEME" ) contemplated between the Petitioner Companies.

(2.) From the records, it is seen that the First Motion seeking direction for convening the meeting of Secured Creditors and Unsecured Creditors was filed before this Tribunal in CAA (No.) 113/ND/2017 and based on such joint application moved under Sections 230-232 of the Companies Act, 2013, directions were issued by this Tribunal to dispense with the convening of the meetings of the equity shareholders. Vide Order dated 15.09.2017 their Tribunal had dispensed with meeting of the applicant companies in view of the consent affidavits being on record. There were no Secured Creditors in either of the applicant companies so the requirement of convening of meeting did not arise. With respect to the unsecured creditors, meetings were directed to be convened.

(3.) In compliance with the directions issued by this Tribunal, the Petitioner Companies have held the meeting as directed on 08.11.2017 and to which effect the Chairperson appointed by this Tribunal has also filed his report.