Bikki Raveendra Babu, Member - (1.) These petitions under Sections 230 to 232 of the Companies Act, 2013 have been filed seeking sanction of proposed Scheme of Amalgamation of Welspun Energy Private Limited (Transferor Company 1') and WS Alloy Holding Private Limited (Transferor Company 2') and Welspun Steel Limited (Transferee Company') ["Scheme" for short].
(2.) The petitioner companies herein i.e. Welspun Energy Private Limited and WS Alloy Holding Private Limited and Welspun Steel Limited, had filed a joint application, being CA (CAA) No. 34 of 2017, before this Tribunal seeking dispensation of separate meetings of equity shareholders of all the petitioner companies, separate meetings of preference shareholders of Petitioner Transferor Company 2 and the Petitioner Transferee Company, separate meetings of secured creditors of the Petitioner Transferee Company and separate meetings of unsecured creditors of Petitioner Transferor Company 1 and the Petitioner Transferee Company. This Tribunal, vide its order dated 8th May, 2017, dispensed with convening and holding of the meetings of the equity shareholders, preference shareholders, secured creditors and unsecured creditors of the petitioner companies.
(3.) This Tribunal also directed the petitioner companies to issue statutory notice in Form No. CAA3 to (i) the Central Government through the Regional Director, North Western Region; (ii) the Registrar of Companies, Gujarat; (iii) the Income-tax authorities; (iv) Official Liquidator (only in the case of the Petitioner Transferor Companies) asking them to make representations, if any, within a period of 30 days from the date of receipt of such notice, and in case no representation is received by the Tribunal within the stipulated period of 30 days, it should be presumed that the authorities have no representation to make.;