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 Arrangement in the nature of amalgamation of Mahadev Infrastructure Private Limited (Transferor Company) with Swayam Shipping Services Private Limited (Transferee Company) ["Scheme" for short.]
(2.) The petitioner of CP(CAA) No. 97/NCLT/AHM/2017, i.e. Mahadev Infrastructure private Limited had filed CA(CAA) No. 48/NCLT/AHM/2017 before this Tribunal, seeking dispensation of meetings of equity shareholders and unsecured creditors of the applicant transferor company for the purpose of considering and, if thought fit, approving with or without modification(s) the Scheme. It was stated by the Company that there were no secured creditors of the company. This Tribunal vide order dated 14.6.2017, issued directions dispensing with the meeting of Unsecured Creditors of the petitioner-company. So far as the Equity Shareholders were concerned, this Tribunal issued directions for convening and holding of the meeting of the Equity Shareholders of the petitioner transferor company. This Tribunal also directed publication of advertisements in local dailies viz. 'Indian Express' in English language and 'Sandesh' in verna cular language, having circulation in Ahmedabad. This Tribunal further directed issuance of notices to Regional Director, Registrar of Companies, Income Tax Authority and Official Liquidator stating that the representation, if any, to be made by them, be made within a period of 30 days from the date of receipt of such notice.
(3.) In pursuance to the order dated 14.6.2017, the meeting of Equity Shareholders of the said Company was duly convened and held on 28.7.2017 at 1:00 pm at 202, 2nd Floor, Rajkamal-1, Plot No. 348, Ward No. 12-B, Ganadhidham-370201. As per the Chairman's Report, the Scheme has been approved unanimously by the Equity Shareholders of the Company. The petitioner company also published notices in the local dailies viz. 'Indian Express' in English language and 'Sandesh' in verna cular language, having circulation in Ahmedabad. The petitioner also sent notices to the statutory authorities as per the directions contained in the order dated 14.6.2017.;