IN RE Vs. GAJANAND INFRACON PVT LTD

JUDGEMENT

(1.) These petitions under Sections 230 to 232 of the Companies Act, 2013 have been filed seeking sanction of proposed Composite Scheme of Amalgamation between Dharnidhar Cotex Private Limited (Amalgamating Company-1) and Peachwoods InfraCom Private Limited (Amalgamating Company-2) and Satyaprabhu Infrastructure Private Limited (Amalgamating Company-3) and Shankheshwar Spinners Private Limited (Amalgamating Company-4) and Spring Valley Organisers Private Limited (Amalgamating Company-5) and Teracon Projects Private Limited (Amalgamating Company-6) and Vipul Forms and Graphics Private Limited (Amalgamating Company-7) and Yash Infra Realty Private Limited I (Amalgamating Company-8) and Yashica Salt Private Limited (Amalgamating Company-9) And Gajanand Infracon Private 4 Limited (Amalgamated Company) and their respective shareholders and creditors ["Scheme" for short].

(2.) The Petitioner of CP (CAA) 26/NCLT/AHM/2018 company i.e. Dharnidhar Cotex Private Limited ("Petitioner Amalgamating Company-1") had filed CA (CAA) NO. 146 OF 2017 before this Bench of the National Company Law Tribunal (Tribunal') , seeking dispensation for convening meetings of Equity Shareholders, Secured Creditors and Unsecured Creditors of the Petitioner Amalgamating Company 1. This Tribunal, vide its order dated 21st November, 2017, dispensed with convening and A holding of the meeting of the Equity Shareholders, Secured and Unsecured Creditors of the Petitioner Amalgamating Company 1.

(3.) The Petitioner of CP (CAA) 27/NCLT/AHM/2018 company i.e. Peachwoods Infra Com Private Limited ("Petitioner Amalgamating Company-2") had filed CA (CAA) NO. 147 OF 2017 before this Bench of the National Company Law Tribunal ('NCLT or Tribunal') , seeking dispensation for convening meetings of Equity Shareholders, Secured Creditors and Unsecured Creditors of the Petitioner Amalgamating Company 2 and appropriate directions may be issued for conveying the meetings of the Preference Shareholders. This Tribunal, vide its order dated 21st November, 2017, dispensed with convening and holding of the meeting of the Equity Shareholders, Secured and Unsecured Creditors of the Petitioner Amalgamating Company 2. M This Tribunal directed convening the meeting of the Preference shareholder of the Petitioner Amalgamating Company - 2.