V.P. Singh, Member - (1.) The instant application has been filed under Sections 230, 232(1) and 232(2) of the Companies Act, 2013 for directions to call separate meetings of Equity/Preference shareholders of the applicants to consider and if thought fit to approve the proposed Scheme of Amalgamation, with or without modification.
(2.) The object of this application is to ultimately obtain sanction of this Tribunal to the proposed Scheme of Amalgamation of Titagarh Agrico Private Limited, the applicant No. 1 (the Transferor Company) with CIMMCO Limited, applicant No. 2 (the Transferee Company) whereby all the properties, assets, rights and claims whatsoever of the Transferor Company and its entire undertaking together with all its rights and obligations relating thereto are proposed to be transferred to and vest in the Transferee Company on the terms and conditions as fully stated in the said Scheme of Amalgamation.
(3.) The applicant No. 1 is having 7 Equity Shareholders and with a paid up capital of Rs. 36 Crores and the applicant No. 2 as on 10/02/2017, is having 47,636 Equity Shareholders and 2 preference shareholders with a paid up capital of Rs. 60.15 Crores (approx). Both the companies have prayed for holding Equity/Preference Shareholders meetings.;