Bikki Raveendra Babu, Member - (1.) This application is filed jointly by two applicant-companies, namely, Gopal Glass Works Limited (applicant transferor-company) and Gopal Mirror Coating Private Limited (applicant transferee-company) under Sections 230-232 of the Companies Act, 2013 (hereinafter referred to as the "Act") read with Rules 3 and 18 of the Companies (Compromise, Arrangements and Amalgamations) Rules, 2016 (hereinafter referred to as the "Rules"), seeking directions for the purpose of convening and holding meetings of shareholders and creditors of the applicant-companies in respect of a scheme of arrangement between Gopal Glass Works Limited and Gopal Mirror Coating Private Limited and their respective shareholders and creditors ("Scheme" for short).
(2.) The applicant-companies had filed an application, being CA(CAA) No. 12 of 2017, seeking directions under Sections 230 to 232 of the Companies Act, 2013 for convening and holding of meetings of shareholders and creditors of the applicant-companies in respect of the very same Scheme. This Tribunal, vide order dated 5th April, 2017, issued necessary directions for convening and holding of the meetings. According to the applicants, later on they realized that, due to inadvertence, the Scheme annexed to the said application was the draft version instead of the final version. Therefore, the applicants filed Interlocutory Application No. 86 of 2017, seeking permission to place on record of this Tribunal the correct version of the Scheme of Arrangement and to serve correct version of the Scheme to all the equity shareholders and unsecured creditors of the applicant-companies as also to the statutory authorities with necessary clarification. However, by order dated 8th May, 2017, this Tribunal disposed of the said Interlocutory Application as having not pressed with liberty to file a fresh application for directions. Hence, this application.
(3.) Applicant transferor-company is a public company limited by shares. The authorised share capital of the applicant transferor-company, as on 30th November, 2016, was Rs. 5,00,00,000/- and the issued, subscribed and paid-up share capital of the applicant transferor-company as on the said date was Rs. 4,00,00,000/- divided into 4,00,000 equity shares of Rs. 100/- each.;