Bikki Raveendra Babu, Member - (1.) By these Petitions under Sections 230-232 of the Companies Act, 2013, the Petitioner Companies are seeking sanction of a proposed Scheme of Arrangement in the nature of Amalgamation between Real Algorithm Intelligent Systems Private Limited (Transferor Company) with Decisioncraft Private Limited (Transferee Company) and their respective Shareholders and Creditors (Scheme).
(2.) The Petitioner of CP(CAA) No. 47/NCLT/AHM/2017 i.e. Real Algorithm Intelligent Systems Private Limited, had filed an application before this Hon'ble Tribunal, being CA(CAA) No. 37/NCLT/AHM/2017, for dispensing with convening of the meeting of the Equity Shareholders and Unsecured Creditors of the said Company. There were no Secured Creditors of the Petitioner Company as on the Date of the Filling of the application. The Hon'ble Tribunal, vide order dated 24th April, 2017, dispensed with the convening and holding of the meetings of the Equity Shareholders and Unsecured Creditors of the Petitioner Company in view of the Consent Letters given by the Equity Shareholders and Unsecured Creditors of the Petitioner Company.
(3.) The Petitioner of CP(CAA) No. 48/NCLT/AHM/2017, i.e. Decisioncraft Private Limited, had filed an application before this Hon'ble Tribunal being CA (CAA) No. 38/NCLT/AHM/2017, for dispensing with convening of the meeting of the Equity Shareholder and Unsecured Creditors of the said Company. There were no Secured Creditors of the Petitioner Company as on the Date of Filling of the application. The Hon'ble Tribunal, vide order dated 24th April, 2017, dispensed with convening and holding of the meetings of the Equity Shareholders and Creditors of the Petitioner Company in view of the Consent Letters given by the Equity Shareholders and Unsecured Creditors of the Petitioner Company.;