R. Varadharajan, Member - (1.) This petition filed by the companies above named is coming up finally before us on 10.07.2017 for the purpose of the approval of the scheme of amalgamation, as contemplated between the companies and its shareholders by way of amalgamation of the Transferor Companies No. 1 to 7/Petitioner 1 to 7, with the Transferee Company/Petitioner No. 8. A perusal of the petition discloses that initially the application seeking the dispensation of the meetings of equity shareholders, secured and unsecured creditors were filed before the Hon'ble High Court of Delhi in CA (M) 96/2016. The Hon'ble High Court of Delhi vide its order dated 12th August, 2016 was pleased to dispense with the requirement of convening the meetings of the equity shareholders of the Petitioner Companies, in view of their consents having been obtained and produced before it. In relation to the Secured and Unsecured creditors of the Petitioner Companies, it is represented that they have none, therefore necessity of convening the meetings did not arise.
(2.) Under the circumstances, the petitioners have filed their joint petitions for sanction of the Scheme of Amalgamation before the Hon'ble High Court of Delhi under the erstwhile provisions, subsequent to the order of dispensation of the meeting ordered by the Hon'ble High Court of Delhi on 12th August, 2016.
(3.) On 09.09.2016 the Hon'ble High Court of Delhi ordered Notice in the Second Motion petition in C.P. No. 822/2016 moved by the petitioners under Sections 391 to 394 of the Companies Act, 1956 read with relevant Rules of the Companies (Court) Rules, 1959 in connection with the scheme of amalgamation, to the Registrar of Companies, Regional Director and the Official Liquidator and also to upload on the website of the Companies, official Liquidator and Ministry of Corporate affairs,. The Petitioners were also directed vide said order to carry out publication in the newspapers "Financial Express" in English and "Jansatta" Hindi edition.;