IN RE Vs. PEASS INDUSTRIAL ENGINEERS PVT LTD

JUDGEMENT

(1.) Heard learned Advocate Ms. Dharmishta Raval for Raval & Raval Advocate.

(2.) Peass Industrial Engineers Private Limited has filed this application seeking dispensation of meetings of Equity Shareholders and Secured Creditors and directions for conducting the meeting of Unsecured Creditors of the Applicant Company in respect of a Scheme of Amalgamation of Sitaman Industries Private Limited ("Transferor Company") and Peass Industrial Engineers Private Limited ("Applicant Transferee Company") and their respective shareholders and creditors with effect from the Appointed Date on the agreed terms and conditions as set out in the Scheme of Amalgamation annexed at Annexure-D in accordance With Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013.

(3.) The Board of Directors of Applicant Transferee Company in the meeting held on 22nd September 2017, passed a resolution approving the proposed Scheme of Amalgamation placed before the Board. The Applicant Transferee Company has filed its audited and unaudited balance sheet as well a Chartered Accountant's Certificate dated September 28, 2017 issued by its Statutory Auditors certifying compliance with Section 133 of the Companies Act, 2013.