- (1.) This petition filed by the companies above named is coming up for final disposal on 28.03.2017 for the purpose of the approval of the Scheme of Amalgamation (for brevity referred as "Scheme"), as contemplated between the companies and its shareholders of the WG Associates Private Limited (Petitioner/Transferor Company) with Smart Solutions Infra-Logistics Private Limited (Non-Petitioner/Transferee Company).
(2.) A perusal of the petition discloses that initially the application seeking the directions for dispensing with convening and holding of meeting of Equity Shareholders, Secured and Unsecured Creditors of the transferor company was filed before Hon'ble High Court of Delhi being Co Appl. (M) No. 148/2016. The Hon'ble High Court of Delhi vide its order dated 7.10.2016, had dispensed with the requirement of convening of the meetings of the Equity Shareholders and Unsecured Creditors, in view of consents having been obtained and placed on record. In relation to Secured Creditors the requirement of convening of the meetings was also dispensed with as there were no Secured Creditor in the Petitioner Company.
(3.) Under the circumstances, the petitioner has filed petition for sanction of the Scheme of Amalgamation before the Hon'ble High Court of Delhi under the erstwhile provisions, subsequent to the order of dispensing with the meeting ordered by the Hon'ble High Court of Delhi on 7.10.2016.;