Mohd Sharief Tariq, Member - (1.) Under consideration is a joint Application filed under Sections 230 to 232 of the Companies Act, 2013. The prayer made is to dispense with convening, holding and conducting of the meeting of equity/preference shareholders, secured/unsecured creditors in relation to the Demerged and Resulting Companies.
(2.) M/S. Arun Wind Mills India Private Limited i. The Demerged/1st Resulting Company viz., M/s. Arun Wind Mills India Private Limited has 8 equity shareholders. The list of equity shareholders is placed at page 318 of the typed set filed with the Application. The consent affidavits given by all the 8 equity shareholders are placed at pages 319 to 334 of the typed set filed with the Application, wherein it has been deposed that they do support the Scheme and consent to dispense with convening, holding and conducting the meeting of equity shareholders. Therefore, the meeting of the equity shareholders of the Demerged/ 1st Resulting Company is allowed to be dispensed with. ii. There is no secured creditor in relation to the Demerged/1st Resulting Company. The certificate issued by the Charted Accountant to this effect is placed at page 300 of the typed set filed with the Application, iii. There are 11 unsecured creditors in relation to the Demerged/1st Resulting Company. The certificate issued by the Charted Accountant to this effect is placed at page 301 of the typed set filed with the Application. Out of 11 unsecured creditors 8 have given consent Affidavits, which constitutes 99.17% of the total value of the credit. The consent affidavits given by the unsecured creditors are placed at pages 302 to 317 of the typed set filed with the Application. Therefore, the meeting of the unsecured creditors is allowed to be dispensed with under clause (9) of the Section 230 of the Companies Act, 2013.
(3.) M/S. Aniruth Green India Private Limited i. The 2nd Resulting Company viz., M/s. Aniruth Green India Private Limited has 5 equity shareholders and 3 preference shareholders. The list of equity and preference shareholders are placed at pages 353 and 366 respectively of the typed set filed with the Application. The consent affidavits given by the equity shareholders and preference shareholders are placed at pages 354 to 365 and 367 to 372 respectively of the typed set filed with the Application, wherein it has been deposed that they do support the Scheme and consent to dispense with convening, holding and conducting the meeting of equity shareholders. Therefore, the meeting of the equity and preference shareholders of the 2nd Resulting Company is allowed to be dispensed with. ii. There is no secured creditor in relation to the 2nd Resulting Company. The certificate issued by the Charted Accountant to this effect is placed at page 336 of the typed set filed with the Application. iii. There are 13 unsecured creditors in relation to the 2nd Resulting Company. The certificate issued by the Charted Accountant to this effect is placed at page 337 of the typed set filed with the Application. Out of 13 unsecured creditors 6 have given the consent Affidavits and 2 have given consent letter, which constitute 97.87% of the total value of credit. The consent affidavits given by the unsecured creditors are placed at pages 338 to 345, 348, 349, 351 and 352 of the typed set filed with the Application. Therefore, the meeting of the unsecured creditor is allowed to be dispensed with under clause (9) of the Section 230 of the Companies Act, 2013 subject to condition that Affidavits of the remaining two unsecured creditors are filed at the time of filing main Company Petition.;