- (1.) The learned Advocate for the Applicant Company states that the Scheme of Demerger will have benefit as under: a. The Demerged Company is undertaking two different businesses, both of which requires specialized skill and resources viz. production of Non Stick cookware (Consumer Appliances Undertaking) and coating of components used in Automobile Industry (Auto Undertaking). The Resulting Company is engaged in the related business activities, similar to Auto Undertaking and it would, therefore, be advantageous to combine the activities and operations of Auto Undertaking of Demerged Company into a Resulting Company for synergistic linkages and the benefit of financial and other resources of each Undertaking.
(2.) That a meeting of the Equity Shareholders of NIRLEP APPLIANCES PRIVATE LIMITED, "the Applicant Company" be convened and held at its registered office at B-5, MIDC Industrial Area, Railway Station Road, Aurangabad - 431005, on Thursday, 30th March 2017, at 10.30 a.m. for the purpose of considering, and if thought fit, approving, with or without modification, the arrangement embodied in the Scheme of Arrangement and Reconstruction between Nirlep Appliances Private Limited and Bhogale Automotive Private Limited and their respective shareholders and creditors ("the Scheme").
(3.) That a meeting of the only one, 10% Optionally Convertible Preference Shareholder of NIRLEP APPLIANCES PRIVATE LIMITED, "the Applicant Company" be convened and held at its registered office at B-5, MIDC Industrial Area, Railway Station Road, Aurangabad - 431005, on Thursday, 30th March 2017, at 11.30 a.m. for the purpose of considering, and if thought fit, approving, with or without modification, the arrangement embodied in the Scheme.;