IN RE Vs. MASIBUS ELECTRONICS PRIVATE LIMITED

JUDGEMENT

(1.) Heard learned Advocate, Ms. Vaibhavi Parikh, for the applicant.

(2.) The applicant, Masibus Electronics Private Limited, by this application under sections 230-232 of the Companies Act, 2013 read with Rules - 3 and 18 of the Companies (Compromise, Arrangements and Amalgamations) Rules, 2016, is seeking dispensation of meeting of equity shareholders and directions for holding meeting of unsecured creditors of the applicant company in respect of a proposed Scheme of Arrangement in the nature of Amalgamation of Masibus Electronics Private Limited ("transferor company") with Masibus Automation And Instrumentation Private Limited ("transferee company") and their respective shareholders and creditors (hereinafter referred to as the "scheme" for short).

(3.) The Applicant is a private limited company. The authorized share capital of the applicant transferor company as on 31st March, 2017, was Rs. 20,00,000/- and the issued, subscribed and paid-up share capital of the applicant transferor company as on the said date was Rs. 20,00,000/- divided into 20,000 equity shares of Rs. 100/- each.