Bikki Raveendra Babu, Member - (1.) Heard learned Advocates, Ms. Dharmishta Raval with Mr. Yuvraj Thakore, for Raval & Raval Advocates of Applicant Companies. Perused the application and the supporting affidavit of Mr. Rajeshkumar Brahambhatt, Director of the Applicant Companies, dated 14th, March, 2017 and the documents annexed thereto.
(2.) This is a joint application filed by Safal Constructions Pvt. Limited and BSafal Infraheights Pvt. Ltd. under Section 230-232 of the Companies Act, 2016. Both these Companies are incorporated under Companies Act, 1956 with their registered offices are in Ahmedabad.
(3.) Safal Constructions Private Limited (hereinafter referred as the "Transferor Company") has filed this application seeking dispensation of the meeting of the equity shareholders and Preference Shareholders and seeking directions for convening the meetings of the secured creditors and unsecured creditors in respect of a scheme of arrangement between the transferor company and the BSafal Infraheights Pvt. Ltd. (hereinafter referred to as the "transferee company") and their respective shareholders and creditors ("Scheme" for short) in the nature of the merger of the transferor company with effect from the Appointed Date with the transferee-company on the agreed terms and conditions as set out in the scheme annexed at Annexure-I in accordance with Section under Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions of the Act.;