Amrit Gold Intrade Private Limited vs Registrar of Companies

Avinash K, Srivastava, Member (Technical)

 This Company Petition jointly filed by the Applicant Companies is coming before us for admission, fixing a date for hearing and final disposal of

the Application as well as for a direction for publication and issuance of notices to the concerned authorities for objections, if any, to the Composite

Scheme of Arrangement (hereinafter, referred to as the ""SCHEME"") contemplated between the Applicants, which will take effect from the

Appointed Date of April 01.04.2020

 As per the averments, the Registered offices of all the Applicant Companies are located in Delhi and hence, falling within the territorial

jurisdiction of this Bench.

 From the case records, it is seen that the First Motion seeking direction for dispensing with the meeting of Equity Shareholders, Secured

Creditors and Unsecured Creditors was filed before this Tribunal in CA (CAA)-55/ND 2021 under sections 230-232 of the Companies Act, 2013 and

vide order dated 22.12.2021 directions were issued to dispense with the convening and holding of the meetings of Equity Shareholders, Secured

Creditors and Unsecured Creditors of the Applicant Companies.

 The prayers in this Petition by way of Second Motion are for fixing a date of hearing as well as other consequential directions in terms of the

provisions of the Section 230 to 232 of Companies Act, 2013 read with Rule 16 of the Companies (Compromise, Arrangements and Amalgamation)

Rules, 2016. It is now hereby ordered as follows:

i. Â The Petition stands Admitted.

ii. Â The date of hearing of the Petition led by the Applicant Companies for approval of the Scheme is fixed for 21.03.2022.

iii. Notice of the hearing shall be published in the newspapers namely, Business Standard"" in English and ""Business Standard"" in Hindi (Delhi edition) in not less

than 40 days before aforesaid date fixed for hearing.

 In addition to the publication of the above Public Notice, the Applicant Companies shall individually serve the notices of this Petition to the

following Authorities, namely:

(A) Central Government through Regional Director (Northern region), Ministry of Corporate Affairs,

{B| Ministry of Corporate Affairs, (Official Liquidator, Delhi,

(C) Registrar of Companies, NCT of Delhi & Haryana,

|D) The Jurisdictional Income Tax Authorities,

|E) Such other Sectoral Regulatory Authorities, which govern working of the Companies involved in theScheme at least 40 days before the date fixed for hearing of

this Petition.

 That the Applicant Companies shall, at least 7 days before the date of hearing of the Petition, file an Affidavit of Service in relation to the

Newspaper publication effected as well as service of Notices on the Authorities as specified above including the Sectoral Regulators, if any.

 Objections, if any, by the Authorities to whom Notices are given on or before the date of hearing fixed herein may be filed to the ""SCHEME

contemplated by the Applicant Companies, failing which it. will be considered by this Tribunal that there is no objection to approval of the ""SCHEME

on the part of the Authorities, subject to other conditions as may be applicable under the Companies Act, 2013 and relevant rules framed there under

being satisfied.