Bikki Raveendra Babu, Member - (1.) These petitions under Sections 230-232 of the Companies Act, 2013 have been filed seeking sanction of a proposed Scheme of Arrangement ("Scheme" for short) in the nature of amalgamation of M/s. CTX Dyestuffs Private Limited (Transferor Company) with Colourtex Industries Private Limited (Transferee Company).
(2.) The petitioner of CP(CAA) No. 68/NCLT/AHM/2017, i.e. M/s. CTX Dyestuffs Private Limited, had filed CA(CAA) No. 28/NCLT/AHM/2017 before this Tribunal, seeking directions for convening of meeting of Equity Shareholders of the said Company. It was stated by the Company that there were no secured or unsecured creditors of the company, so the question of their meetings did not arise. This Tribunal vide order dated 4.5.2017, issued directions for convening and holding of the meeting of the Equity Shareholders of the petitioner-company. This Tribunal also directed publication of notices in the local dailies viz. English daily Indian Express' and Gujarati daily 'Sandesh', having circulation in Surat. This Tribunal also directed issuance of notices to the Regional Director, Registrar of Companies, Income Tax Authority and the Official Liquidator stating that representation, if any, to be made by them, be made within a period of 30 days from the date of receipt of such notice.
(3.) In pursuance of the said order dated 4.5.2017, the petitioner sent notices to the statutory authorities. The meeting of Equity Shareholders of the petitioner Company was duly convened and held on 15.6.2017 at 2:00 p.m. at the registered office of the Company, i.e., Survey No. 91, Opp. Navin Flourine, Udhna Navsari Road, Surat - 395023. The petitioner company also published notices in the local dailies viz. 'Indian Express' and 'Sandesh', having circulation in Surat. As per the Chairman's report, the Equity shareholders present in the meeting either in person or through proxy have unanimously approved the Scheme of Amalgamation.;