- (1.) Under adjudication are two Company applications, CA/209/CAA/2017 and CA/210/CAA/2017that has been filed in the matter of the Scheme of Amalgamation.
(2.) The Applicant Companies, and M/s. L G Balakrishnan & Bros Limited (Transferee Company) , have prayed for seeking directions for: a) dispensing with the convening and holding of the meeting of the Equity shareholders of the Transferor Company in view of the consent affidavits given by the Transferor Company and its nominee shareholders. b) dispensing with the convening and holding of the meeting of Secured Creditor of the Transferor Company in view of the consent affidavits given by the Transferor Company and its nominee shareholders. c) convening, holding and conducting of the meeting of Unsecured Creditors of the Transferor Company, fix the date, time, place, quorum and appointment of Chairman and Scrutinizer for the meeting d) convening, holding and conducting of the meeting of Equity Shareholders of the Transferee Company, by way of postal ballot/ e-voting e) dispensing with the convening and holding of the meeting of Secured Creditor of the Transferee Company in view of the consent affidavits given by the Transferor Company and its nominee shareholders. f) convening, holding and conducting of the meeting of Unsecured Creditors of the Transferee Company, fix the date, time, place, quorum and appointment of Chairman and Scrutinizer for the meeting g) fix a date for presentation of the Company Petition M/s. BCW v. Tech India Private Limited (Transferor Company)
(3.) The transferor company is the wholly owned subsidiary of the Transferee Company. There are 7 Equity Shareholders in the Transferor Company whose particulars are placed at page 129 of the typed set, certified by the Authorised Signatory of the applicant company and they have given their consent to the said scheme of amalgamation by way of consent affidavits, which are placed at Pages 130 to 150 of the typed set. Hence, holding of the meeting of the Equity shareholders of the Transferor Company is dispensed with.;