IN RE Vs. NGK FRESH TRADING PRIVATE LIMITED

JUDGEMENT

(1.) An application seeking for condonation of 9 days in filing the company petition seeking for sanction of the scheme of Amalgamation as contemplated between the companies has been filed vide diary no. 5162 dated 08.12.17 due to reasons stated in paragraph 1 of the application. The delay of 9 days is condoned and accordingly the company petition is taken up for ordering notices in the 2nd motion.

(2.) This Company Petition filed by the Petitioners is coming before us for admission and for fixing a date of hearing of the main Company Petition as well as for a direction in relation to publication in press to be effected and notices to be issued to the authorities concerned in relation to date of hearing of the Petition and calling for the objections, if any, to the Composite Scheme of Arrangement by way of Amalgamation (hereinafter for brevity referred to as "SCHEME") contemplated between the Petitioner Companies. From the records, it is seen that the First Motion seeking directions for dispensing the meeting of the Equity Shareholders, secured and unsecured creditors was filed before this Tribunal vide CA (CAA) No. 136 (ND) 2017 and based on such joint application moved under Sections 230-232 of the Companies Act, 2013, directions were issued by this Tribunal, wherein the meeting of the Equity Shareholders, secured and unsecured creditors of the petitioner companies were dispensed with vide order dated 16.11.2017 as consents from them had been obtained by the Petitioner Companies for the approval of the Scheme or there being none which obviates the necessity of convening of a meeting.

(3.) Subsequent to the order, now this petition on second motion filed on 08.12.2017 is coming up before us for fixing a date of hearing as well as for other consequential directions in terms of provisions of Sections 230 to 232 of Companies Act, 2013 read with Rule 16 of the Companies (Compromise, Arrangements and Amalgamation) Rules, 2016, brought into effect and on and from 15.12.2016 and it is now hereby ordered as follows:-