S.K.KESHOTE, J. - (1.) THIS application is filed by Rajasthan Fasteners Private Limited having its Registered Office at B -27, Road No. 5, RHCO Industrial Area, Kukas, Amer, Jaipur, Rajasthan ('the applicant Transferee Company'), under Section 391(1) of the Companies Act, 1956 ('the Act, 1956'); therein the prayer has been made for an order for dispensing with the formalities of convening and holding of the meetings of the Equity Shareholders and of secured/unsecured creditors of the Applicant -Transferee Company or any other direction/order which is just and proper in the facts and circumstances of the case.
(2.) THERE are 22 equity shareholders of the Transferee Company, the details of which are given at page No. 115 of the application. The equity shareholders have given their consent/no objection regarding amalgamation of M/s. Aditya Minerals Private Limited (hereinafter shall be referred to as 'the Transferor Company') with the Transferee Company. These consent letters/no objections have been produced on the record of the application at page Nos. 120 to 141. Having heard learned Counsel for the applicant Transferee Company and carefully gone through the consent letters/no objections given by these equity shareholders and the fact that majority shareholding of the Transferee Company is with Mr. P.M. Lodha, I consider it to be a fit case to dispense with the holding of the meetings of the equity shareholders.
(3.) THERE are two secured creditors of the Transferee Company as per the document Annexure -H at page No. 113 of the application i.e., the certificate of Narendra Sharma and Company, Chartered Accountants. The details given by the Chartered Accountants in the form of certificate at page No. 113 of the application has been taken from the books of account of the Transferee Company produced before them for verification.;