Rajeswara Rao Vittanala, Member - (1.) The Company Petition bearing C.P. No. 387/2016 [CP(TCAA) No. 50/HDB/2017] was filed by Mallemaala Agro Private Limited (Petitioner/Transferor Company) before the Hon'ble High Court of Judicature at Hyderabad for the State of Telangana and the State of Andhra Pradesh under Sections 391 & 394 of the Companies Act 1956, by seeking the following reliefs: a) to sanction Scheme of Amalgamation in question (Page No. 111 of the Company Petition) so as to be binding on all the Equity Shareholders/Members, Creditors and employees of the Petitioner/Transferor Company; and b) Order that the Petitioner Company shall be dissolved without going through the process of winding up.
(2.) A Gazette Notification GSR 1134(E) : MANU /DCAF/0154/2016 dated 14th December, 2016 issued by the Ministry of Corporate Affairs with effective date of 15th December, 2016, and in terms of Rule 15 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 & Rule 23A of NCLT Rules R/w Rule 3 of Companies (Transfer of Pending Proceedings) Rules, 2016, jurisdiction is conferred on this Tribunal in respect of subject cases and thus pending cases also transferred from the Hon'ble High Court to the NCLT. Accordingly, the Hon'ble High Court transferred this case to this Bench. On transfer, case is listed before this Bench on 02.02.2017, 14.02.2017, 22.02.2017, 14.03.2017, 05.0.2017, 21.04.2017, 25.04.2017 and finally on 03.05.2017.
(3.) Heard, Mr. V. Venkata Rami Reddy, Learned Counsel for the Petitioner/Transferor Company, Mr. J. Srinadh Reddy, Learned Counsel for the Official Liquidator and have carefully perused all pleadings along with material papers filed in its support.;