R. Varadharajan, Member - (1.) This petition filed by the companies above named is coming up finally before us on 26.07.2017 for the purpose of the approval of the scheme of arrangement, as contemplated between the companies and its shareholders by way of amalgamation of the Transferor Company/Petitioner, with the Transferee Company/Petitioner. A perusal of the petition discloses that initially the application seeking the dispensation of the meetings of equity shareholders, secured and unsecured creditors were filed before the Hon'ble High Court of Delhi in CA (M) 96/2015. The Hon'ble High Court of Delhi vide its order dated 25.05.2015, was pleased to dispense with the requirement of convening the meetings of the equity shareholders, secured creditors and unsecured creditors of both the Petitioner Companies, in view of their consents having been obtained and produced before it or there was none in either of the companies as the case may be.
(2.) Under the circumstances, the petitioners have filed their joint petitions for sanction of the Scheme of Amalgamation before the Hon'ble High Court of Delhi under the erstwhile provisions, subsequent to the order of dispensation of the meeting as ordered by the Hon'ble High Court of Delhi on 25.05.2015.
(3.) The Hon'ble High Court of Delhi ordered Notice in the Second Motion petition in C.P. No. 502/2015 moved by the petitioners under Sections 391 to 394 of the Companies Act, 1956 read with relevant Rules of the Companies (Court) Rules, 1959 in connection with the scheme of amalgamation on 10.08.2015, to the Registrar of Companies, Regional Director and the Official Liquidator. The Petitioners were also directed vide said order to carry out publication in the newspapers "Financial Express" in English edition and "Jansatta" in Hindi Edition.;