Jinan K.R., Member - (1.) This is an application filed under Sections 230(1) and 232(1) of the Companies Act, 2013 read with the companies (Compromises, Arrangements and Amalgamations) Rules, 2016 by the Applicant Nos. 1 to 3, namely (1) Shristi Infrastructure Development Corporation Limited (in short SIDCL), (2) East Kolkata Infrastructure Development Private Limited (in short EKIDPL) and (3) Vipani Hotels & Resorts Private (in short VHRPL) in connection with a proposed Scheme of Arrangement between the said Applicants and their respective shareholders (Annexure A) for reorganisation and reconstruction of the said companies in the manner and on the terms and conditions fully stated in the said Scheme of Arrangement.
(2.) The instant application has been filed under Section 230(1) read with Section 232 of the Companies Act, 2013 for directions to convene meetings of Equity shareholders of the applicant No. 1, to consider and if thought fit to approve the proposed Scheme of Amalgamation, with or without modification and to dispense with meetings of the shareholders of the Applicant No2 and 3 and the creditors of all the Applicant Companies.
(3.) The object of the application is to obtain an order for convening and/or dispensing meetings of shareholders and creditors of the Applicants to consider a Scheme of Arrangement proposed to be made between Shristi Infrastructure Development Corporation Limited, being the Applicant Company No. 1 above named, East Kolkata Infrastructure Development Private Limited, being the Applicant Company No. 2 above named and Vipani Hotels and Resorts Private Limited, being the Applicant Company No. 3 above named and their respective shareholders whereby and where under it is proposed to reorganize and reconstruct the said companies by (1) amalgamating EKIDPL with SIDCL and (2) demerging the Hospitality Division of SIDCL to VHRPL in the manner and on the terms and conditions stated in the said Scheme of Arrangement Scheme of arrangement.;