Bikki Raveendra Babu, Member - (1.) These petitions are filed by four companies under Section 391 to 394 of the Companies Act, 1956, originally, seeking sanction of the Hon'ble Gujarat High Court to a Composite Scheme of Arrangement in the nature of amalgamation of three Wholly Owned Subsidiaries, viz. SE Blades Limited, SE Electricals Limited and Suzlon Wind International Limited with the parent Transferee Company, viz. Suzlon Energy Limited and de-merger and transfer of Tower Business of Suzlon Structures Limited, the fourth Wholly Owned Subsidiary to Suzlon Energy Limited, the parent Transferee Company.
(2.) The same have been transferred from the Hon'ble High Court of Gujarat vide the order dated 6th March 2017 in light of the Rule 3 of the Companies (Transfer of Pending Proceedings) Rules, 2016.
(3.) This Tribunal by respective orders passed in TP Nos. 53, 54, 55 and 56 of 2017 dated 31st March 2017, fixed the date of hearing of the petitions as 3rd May 2017 and directed all the petitioner companies to issue Notice of Hearing of Petition by way of advertisement in English and Gujarati Newspapers in which the earlier publications were made, not less than 10 days before the date fixed for hearing calling for their objections, if any, on or before the date of hearing. The petitioners were also directed to issue individual notices to all its Equity Shareholders and Unsecured Creditors, not less than 10 days before the date fixed for hearing calling for their objections, if any, on or before the date of hearing. This Tribunal also directed issuance of notice to (i) Regional Director, Western Region, Gujarat (ii) Registrar of Companies, Gujarat (iii) Reserve Bank of India (iv) concerned Tax Authorities (v) Bombay Stock Exchange Limited (vi) National Stock Exchange of India (vii) Competition Commission of India and (viii) Official Liquidator; asking them to file their representations if any, within 30 days from the date of receipt of notice with a condition that in case no representation is received by this Tribunal, it shall be presumed that the above said authorities have no representation to make on the proposed Scheme of Arrangement.;