Bikki Raveendra Babu, Member - (1.) These petitions under Sections 230-232 of the Companies Act, 2013 have been filed seeking sanction of a proposed Scheme of Amalgamation of IRM Brands Private Limited (Transferor Company) with CPL Holdings Private Limited (Transferee Company) ("Scheme" for short).
(2.) The petitioner of T.P. No. 23 of 2017, i.e. IRM Brands Private Limited, had filed an application in the Honourable High Court of Gujarat, being Company Application No. 471 of 2016, seeking dispensation of the meeting of Equity Shareholders of the said Company. It was reported that there were no creditors of the petitioner Company. The Honourable High Court, vide order dated 21st October 2016, dispensed with the convening and holding of meeting of the Equity Shareholders of the petitioner-company in view of the consent letters given by the Equity Shareholders of the petitioner-company.
(3.) The petitioner of T.P. No. 22 of 2017, i.e. CPL Holdings Private Limited, had filed an application in the Honourable High Court of Gujarat, being Company Application No. 470 of 2016, seeking dispensation of the meeting of Equity Shareholders of the said Company. It was reported that there were no creditors of the petitioner company. The Honourable High Court, vide order dated 21st October 2016 dispensed with the convening and holding of meeting of equity shareholders of the petitioner Transferee-Company in view of the consent letters given by all the equity shareholders of the Company. In that order, the Honourable High Court observed that it was reported that there were no creditors of the petitioner company. Even otherwise, it was recorded that the applicant being Transferee Company, the meeting of the creditors is not required to be held.;