Ch Mohd Sharief Tariq, Member - (1.) Counsel for Applicant present and filed CA/15 & 16/CAA/2018. Both the Applications are relating to the same scheme. Therefore, both are clubbed together for passing a common order.
(2.) The Applicant has prayed to order for dispensing with the meeting of the equity shareholders of the Transferor and the Transferee Company and the meeting of the secured creditor of the Transferee Company. It has been mentioned that there are no secured and unsecured creditors in relation to the Transferor Company. In relation to Transferee Company, there is 1 secured Creditor. There are 175 unsecured creditors for which order for meeting has been sought.
(3.) In relation to the Transferor Company, there are 3 equity shareholders who have given the consent affidavits that are placed at page Nos.93 to 100. Similarly, in relation to the Transferee Company there are 9 equity shareholders who have given the consent affidavits that are placed at page Nos.113 to 131. The meetings of the equity shareholders are dispensed with in relation to both the Companies. In relation to the Transferee Company, there is one secured creditor who has given the consent which is placed at page Nos.132 to135. The meeting of the secured creditor is dispensed with under sub clause (9) of section 230 of the Companies Act, 2013.;