- (1.) The learned counsel for the applicants has filed the affidavit of Sushi Kumar Chelani, the whole time Director of the transferee company to furnish the address of the Commissioner of Income Tax in compliance with the previous order.
(2.) This Application has been jointly filed by the applicant companies herein, namely Bagrrys Finance Private Limited (for brevity "Transferor Company No. 1/Applicant Mo, 1"), Kanak Global Securities Private limited (for brevity 'Transferor Company No. 2/Applicant No. 2"), Oasis Securities Private Limited (for brevity "Resulting Company/Applicant No. 3"), Bagrrys India Ltd. (far brevity "Transferee Company/Applicant No. 4") under Section 230, 232 and 66 of the Companies Act, 2013 read with the Companies (Compromises. Arrangement and Amalgamations) Rules. 2016 and the National Company Law Tribunal Rules, 2016, duly supported by the affidavits of the Applicant Companies, for seeking appropriate orders/directions for dispensing with/convening of the respective meetings of Shareholders, Secured Creditor and Un-secured Creditors of the Applicant Companies in connection with the proposed Scheme of Arrangement Annexure A-6 (hereinafter referred to as the "Scheme").
(3.) The Learned counsel for the Applicants represent that the Scheme provides for the fallowing: i. De-merger of investment and other NBFC Business (except strategic investments in Bagrrys India Ltd.) (Demerged Business 1 & 2, respectively) of Bagrrys Finance Pvt. Ltd. and Kanak Global Securities Pvt. Ltd. into Oasis Securities Pvt. Ltd.; ii. Amalgamation of Bagrrys Finance Pvt. Ltd. and Kanak Global Securities Pvt. Ltd. (with residual business consisting of strategic investments in Bagrrys India Ltd) with Bagrrys India Ltd; iii. De-merger or Investment Business (Demerged Business 3) of Bagrrys India Ltd. into Oasis Securities Pvt. Ltd.; and iv. Re-organisation of Share Capital of Bagrrys India Ltd.;