M.M.Kumar, President - (1.) This petition filed by the companies above named is coming up on finally 31.07.2017 for the purpose of the approval of the Scheme of Amalgamation ("Scheme"), as contemplated between the companies and its shareholders of Canopy Nirmans Private Limited (Petitioner No. 1 /Transferor Company No. 1) and Competent Infratech Private Limited (Petitioner No. 2/ Transferor Company No. 2) with Terra Realcon Private Limited (Petitioner No. 3/ Transferee Company).
(2.) A perusal of the petition discloses that initially the application seeking the directions for dispensing with convening and holding of meeting of Shareholders, Secured and Unsecured Creditors of the companies was filed before Hon'ble High Court of Delhi being Co Appl. (M) No.80 of 2016. The Hon'ble High Court of Delhi vide its order dated 19.07.2016 had dispensed with the requirement of convening of the meetings of the Shareholders, Unsecured and Secured Creditors of the Companies, in view of consents having been obtained and placed on record or due to the absence of requirement.
(3.) Under these circumstances, the petitioner had filed a petition for sanction of the Scheme of Amalgamation before the Hon'ble High Court of Delhi under the provisions of erstwhile Companies Act, 1956, subsequent to the order of dispensing with the meeting ordered by the Hon'ble High Court of Delhi on 19.07.2016.;