- (1.) This joint petition filed by the companies above named is coming up finally on 28.03.2017 for the purpose of the approval of the scheme of arrangement (for brevity refereed as "Scheme"), as contemplated between the companies and its shareholders by way of amalgamation of the Kasuya GPP Auto Products Private Limited, (Transferor Company) with Ghaziabad Precision Products Private Limited (Transferee Company).
(2.) A perusal of the petition discloses that initially the application seeking the directions for dispensing with convening and holding of meeting of equity shareholders, secured and unsecured creditors of both the transferor and transferee company was filed before Hon'ble High Court of Delhi being CA No. 57/2016. The Hon'ble High Court of Delhi vide its order dated 30th May, 2016, had dispensed with the requirement of convening of the meetings of the equity shareholders, secured creditors, Unsecured creditors/lenders, in view of consents having been obtained and placed on record.
(3.) 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 dispensing with the meeting ordered by the Hon'ble High Court of Delhi on 30th May, 2016.;