- (1.) This is an application which is jointly filed by the applicant Companies under Section 230 to 232 and other applicable provisions of the Companies Act, 2013 read with Companies (Compromises, Arrangements, Amalgamations) Rules, 2016 in relation to the Composite Scheme of Arrangement (hereinafter referred to as 'Scheme') and the said scheme is annexed as Annexure "P-1" to the application. The Applicants above named have preferred the instant joint application for the following purpose as evident from the notice of admission circulated by the applicants: a) Dispensation Order that the requirement for conveying, holding and conducting of the meeting of the Equity Shareholders of all the Applicant Company No. 1 to 25 be dispensed with. b) Dispensation Order that the requirement for conveying, holding and conducting of Unsecured Creditors of all the Applicant Company No. 1 to 25 be dispensed with, as there being nil Secured Creditors of Applicant Company No. 1 to 25. c) Pass such order or further order(s) which this Hon'ble Tribunal may deem fit, proper and just under the circumstances of the case.
(2.) An affidavit in support of the above joint Application is sworn for Applicant Company Nos. 1, 4, 5, 6 and 24 respectively by Vipul Kumar Srivastava, and For Applicant Company Nos. 2, 8, 15, 20 & 21 by Amit Singh and for Applicant Company Nos. 3, 9, 16, 19 & 23 by K. Hari Govind and for 10, 12, 18, 22 & 25 by Jatin Mahajan and for 7, 11, 13, 14 & 17 by Kunal Verma, being the Authorized Signatories of the respective Companies and has been filed along with the Application.
(3.) Learned Counsel for the joint Application took us through the averments made in the application as well as the typed set of documents annexed there with. It is represented that the scheme does not contemplate any corporate debt restructuring exercise as contemplated under Section 230(2) of the Act. It is further represented that a joint application as filed by the Applicants is maintainable in view of Rule 3(2) of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 and the Registered Office of all the applicant Companies are situated within the territorial jurisdiction of this Tribunal; and falling within Registrar of Companies, NCT of New Delhi;