Bikki Raveendra Babu, Member - (1.) By this joint petition under Sections 230-232 of the Companies Act, 2013, the petitioner companies are seeking sanction of a scheme of arrangement in the nature of amalgamation of Babita Synthetics Private Limited and Kusum Synthetics Private Limited and Sushma Synthetics Private Limited and Geeta Fibres Private Limited and Tulip Industries Private Limited and Kansal Tex-Fab Private Limited and Kansal Poly-Fab Private Limited and Anita Synthetics Private Limited with Ayush Texlene Limited ("Scheme" for short).
(2.) The petitioner companies had filed one joint application, being CA(CAA) No. 67 of 2017, before this Tribunal seeking dispensation of meetings of the respective classes of equity shareholders and creditors of the petitioner companies for the purpose of considering and approving, with or without modification(s) the Scheme. Taking into consideration the individual consents in the form of affidavit approving the Scheme, certificates of Chartered Accountant and averments made in the application, this Tribunal vide order dated 6th June, 2017, dispensed with the meetings of equity shareholders and creditors of the petitioner companies, as prayed for. This Tribunal also directed the petitioner companies to issue notices to the Central Government through Regional Director, North Western Region, the Registrar of Companies, Gujarat, the Income Tax Authorities and the Official Liquidator (only in the case of transferor companies).
(3.) Pursuant to the directions of this Tribunal in CA(CAA) No. 67 of 2017, the Petitioners duly complied with the order and served notices in prescribed forms to the respective authorities and filed proof of service on 18.09.2017.;