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 Eco Phil Metals Private Limited with Persang Alloy Industries Private Limited and their respective shareholders and creditors ('Scheme' of short).
(2.) The petitioner transferor company, i.e. Eco Phil Metals Private Limited, filed an application before this Tribunal, being CA(CAA) 13/NCLT/AHM/2017, seeking dispensation of the meetings of the Equity Shareholders and Unsecured Creditors of the said Company. There were no Secured Creditors of the petitioner transferor company as on the date of filing the application. This Tribunal vide order dated 30th March, 2017, dispensed with the convening and holding of the meetings of the Equity Shareholders and Unsecured Creditors of the petitioner transferor company in view of the consent letters given by the Equity Shareholders and Unsecured Creditors of the Petitioner Company.
(3.) The petitioner transferee company, i.e. Persang Alloy Industries Private Limited, filed an application before this Tribunal, being CA(CAA) 14/NCLT/AHM/2017, seeking dispensation of the meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors of the said Company. This Tribunal vide order dated 30th March, 2017, dispensed with the convening and holding of the meetings of the Equity Shareholders as well as Secured and Unsecured Creditors of the petitioner transferee company in view of the consent letters given by the Equity Shareholders, Secured Creditors and Unsecured Creditors of the Petitioner Company.;