Bikki Raveendra Babu, Member - (1.) By way of this joint petition under Sections 391 to 394 of the Companies Act, 1956 (Sections 230 to 232 of the Companies Act, 2013) , the petitioners are seeking sanction of a proposed -1 Scheme of Amalgamation of M/s. Vindhyachal Merchants and Finance Private Limited (Transferor Company) with M/s Vindhyachal Distilleries Private Limited (Transferee Company) ("Scheme" for short) .
(2.) The petitioner companies had filed applications, being Company Petitions No.49 and 50 of 2016, before the Honourable High Court of Madhya Pradesh, Principal Seat at Jabalpur, seeking dispensation of convening the meetings of shareholders i. and creditors The Honourable High Court of Madhya Pradesh, Principal Seat at Jabalpur, by order dated 4th November, 2016, was pleased to dispense with convening of meetings of shareholders of the petitioner companies, in view of their consent letters and meeting of creditors of the petitioner transferee company. The Honourable High Court also noted that there were no debenture holders in the petitioner companies and there were no creditors of the petitioner transferor company.
(3.) The petitioner companies thereafter filed a joint petition, being Company Petition No.51 of 2017, before the Honourable F High Court of Madhya Pradesh, Principal Seat at Jabalpur, seeking sanction of the Scheme. Subsequently, the Honourable High Court of Madhya Pradesh transferred the aforesaid Company Petition to this Tribunal and it came to be renumbered asT.P. Nos. 65 of 2017.;