Bikki Raveendra Babu, Member - (1.) This application is jointly filed by the Applicant Companies namely, Zylog Plastalloys Private Limited (First Transferor Company), Zylog Composites Private Limited (Second Transferor Company) and Pehnav E-Retail Limited (Transferee Company) under Sections 230-232 of the Companies Act, 2013 (hereinafter referred to as the "Act") read with Rules - 3 and 18 of the Companies (Compromise, Arrangements and Amalgamations) Rules, 2016 (hereinafter referred to as the "Rules") seeking dispensation of meetings of equity shareholders and secured creditors of all the applicant companies and unsecured creditors of the applicant transferee company while seeking necessary directions of this Tribunal for convening and holding meetings of unsecured creditors of the applicant transferor companies for the purpose of considering and, if thought fit, approving a scheme of arrangement in the nature of amalgamation of Zylog Plastallys Private Limited and Zylog Composites Private Limited with Pehnav E-Retail Limited ("Scheme" for short).
(2.) The First Applicant Transferor Company is a private limited company. The authorized share capital of the First Applicant Transferor Company as on 31st March, 2017 was Rs. 75,00,000/- and issued subscribed and paid-up share capital as on the said date was Rs. 75,00,000/- divided into 7,50,000 equity shares of Rs. 10/- each.
(3.) The Second Applicant Transferor Company is also a private limited company. The authorized share capital of the Second Applicant Transferor Company as on 31st March 2017, was Rs. 1,00,00,000/- and issued subscribed and paid-up share capital as on said date was Rs. 1,00,00,000/- divided into 10,00,000 equity shares of Rs. 10/- each.;