Ch. Mohd. Sharief Tariq, Member - (1.) Under consideration is an Application filed under Sections 230 to 232 of the Companies Act, 2013 by M/s. Chennai Network Infrastructure Limited (Transferor Company). The prayer made in the Application is to permit for convening, holding and conducting of the meeting of equity shareholders and secured/unsecured creditors of the Transferor Company.
(2.) The Transferor Company has 26 equity shareholders. We direct for convening, holding and conducting of the meeting of the equity shareholders. The meeting shall be held on 09.11.2017 at 11.00 a.m. at the Regency Hall, Ambassador Pallava, No. 30, Monteith Road, Egmore, Chennai - 600 008. ii. We appoint Mr. D.S. Guna Singh (Director) and alternatively, Mr. Vijay. M. Vij (Director) as Chairman for the meeting of the equity shareholders of the Transferor Company. The quorum shall be 10 equity shareholders present in person or by proxy. In case there is no quorum at the designated time of the meeting, then the meeting shall be adjourned by half an hour, and thereafter, the persons present for voting shall be deemed to constitute the quorum. The voting by the proxy shall be permitted provided a proxy in the prescribed form duly signed by the person entitled to attend and vote at the meeting is filed with the company at its registered office not later than 48 hours before the meeting. Notice for the meeting shall be sent by the Chairman of the meeting by registered post or speed post or courier or e-mail or hand delivery at the last known addresses of the equity shareholders at least one month before the date fixed for the meeting. The person who receives the notice within one month from the date of receipt of notice can vote in the meeting either in person or through proxy. iii. The Chairman is directed to ensure the availability of all the necessary facilities for the purpose of voting in the meeting so that the proceedings of the meeting may take place in a just, free and fair manner and to the extent possible in conformity with the Secretarial standard on general meetings issued under Section 118(10) of the Companies Act, 2013.
(3.) There are 13 secured creditors in the Transferor Company. We order for convening, holding and conducting of the meeting of secured creditors on 09.11.2017 at 12.30 p.m. in the premises at Regency Hall, Ambassador Pallava, No. 30, Monteith Road, Egmore, Chennai - 600 008. ii. We appoint Mr. D.S. Guna Singh, (Director) and alternatively, Mr. Vijay. M. Vij, (Director) as Chairman for the meeting of the secured creditors. We fix the quorum for meeting at 5 and constituting 25% or more of the secured credit. In case the quorum is not there at the designated time, when the meeting is called, then, the meeting shall be adjourned by half an hour, and thereafter, the person present for voting shall be deemed to constitute the quorum. iii. The notice of the meeting of secured creditors shall be issued at least not less than 30 days prior to the date fixed for meeting. The service of notice shall be effected by speed post/through electronic means, provided the e-mail address of the creditors available with the Transferor Company. iv. The Transferor Company is also directed to make available the facility for voting by making appropriate arrangements. The information about such arrangements shall be given to the secured creditors well before the date fixed for the meeting. Those who received the notices may vote in the meeting either in person or through proxy for the adoption of the Scheme. The Chairman shall ensure that the proceedings of the meeting may take place in a just, free and fair manner, and within one week of the meeting. The Chairman shall file the report of the meeting of the secured creditors within one week after conducting the meeting before this Bench.;