- (1.) Petition admitted
(2.) Petition fixed for hearing and final disposal on 15th March 2017.
(3.) The Learned Advocate for the Petitioner states that in pursuance to the order dated 27th October, 2016 passed by the Hon'ble High Court, in the Company Summons for Direction No. 866 of 2016, as per the direction given in the order by the Hon'ble Bombay High Court the meeting of the equity shareholders was held and the requisite quorum was present and the Scheme was approved with requisite majority without modifications. The chairman has filed his affidavit verifying his report dated 2nd January 2017 which is annexed at Annexure H to the Petition. The meeting of the secured creditors was also dispensed with upon an undertaking given by the Petitioner to issue individual notice of the hearing of the Petition by registered post A.D. to all its secured creditors (including debenture holders) and the debenture trustee, and also to publish the same in two newspapers viz: Indian Express in English language and Loksatta in Marathi language both having circulation in Pune. The meeting of the unsecured creditors was also dispensed with upon an undertaking given by the Petitioner to issue an individual notice of the hearing of the Petition by registered post A.D. to all its unsecured creditors of the value equal to and above Rs. 5,00,000/- and also to publish the same in two newspapers viz: Indian Express in English language and Loksatta in Marathi language both having circulation in Pune. The Petitioner has also given an undertaking that any modification or amendment proposed by the Board of Directors of the parties to the Scheme as provided in Clause 45 of the Scheme is subject to the prior approval of the Court/Tribunal.;