Vijai Pratap Singh, Member - (1.) This joint application has been filed under Section 230 and Section 232(1) of the Companies Act, 2013 by the Applicant Companies, namely, Simplex Development Private Limited, Navyug Business Private Limited, Tecalemit Industries Limited, Greysham and Co. Private Limited (hereinafter referred to as the "Transferor Companies") and Traco International Investment Private Limited (hereinafter referred to as the "Transferee Company"), for directions to convene separate meetings of equity shareholders of the applicants to consider and if thought fit to approve the proposed Scheme of Amalgamation, with or without modification. Consequential directions have also sought for in relation to meetings of equity shareholders of the applicant companies.
(2.) The object of this joint application is to ultimately obtain sanction of this Tribunal to the proposed Scheme of Amalgamation. It is stated that the applicant No. 1 is having 75 Equity Shareholders; the applicant No. 2 is having 9 Equity Shareholders; the applicant No. 3 is having 9 Equity Shareholders; the applicant No. 4 is having 2 Equity Shareholders and the applicant No. 5 is having 6 Equity Shareholders. It is further stated that the applicants do not have any secured creditors and that there is only unsecured creditors in the applicants.
(3.) The Board of Directors of all the applicants vide separate meetings held on 24th January 2017 have unanimously passed resolutions and approved the proposed Scheme of Amalgamation and true copies of the resolutions have been filed along with the application being annexure "L".;