AI Structured Summary
Not yet generated for this judgment
Judgment
CA No. 162/2020
Heard Mr. Anand Chhibbar, the learned senior counsel for the applicant companies. The instant IA is filed seeking urgent hearing of CA No. 163/2020 in CA (CAA) No. 4/Chd/Pb/2020. In the circumstances, CA No. 162/2020 is allowed and accordingly, CA No. 163/2020 is taken up for hearing.
Accordingly, CA No. 162/2020 is disposed of.
CA No. 163/2020
This CA has been filed by the applicant companies in CA (CAA) No. 4/Chd/Pb/2020 seeking the following relief:-
"In the light of facts and circumstances narrated herein above, it is most respectfully prayed that present application may kindly be allowed and a new date, place and time to conduct the meetings of unsecured creditors of the Transferor Companies be ordered so that the same can be published through advertisements in newspapers namely Financial Express (English) and Jansatta (Hindi), Chandigarh edition and the meetings of unsecured creditors of Transferor Company 1, 2 & 3 be convened with."
The learned senior counsel appearing for the applicant companies submits that this NCLT disposed of its First Motion Application in CA (CAA) No. 4/Chd/Pb/2020 vide order dated 27.02.2020. This NCLT vide the said order while dispensing with the convening of meetings of equity shareholders of all the four applicant companies and meeting of unsecured creditors of applicant company No. 4, however, directed to convene the meetings of unsecured creditors in respect of Applicant Company No. 1/Transferor Company No. 1, Applicant Company No. 2/Transferor Company No. 2 and Applicant Company No. 3/Transferor Company No. 3 on 18.04.2020 at Hotel Clarion Inn Amps, Main Sirhind Road, Patiala-147 001. Since there are no secured creditors in any of the four applicant companies, there is nothing to convene the meetings.
The learned senior counsel further submits that in view of the disturbance caused and lockdown imposed due to Pandemic Covid-19, the said meetings could not be conducted on the said date. The learned senior counsel further submits that in view of the ongoing disturbance due to the Covid-19, the meetings of the unsecured creditors of Applicant Companies No. 1, 2 & 3 may be allowed to be conducted on any date in November 2020.
In the circumstances and in the interest of justice, we allow the instant CA to the extent of directing the Applicant Companies No. 1, 2 & 3 to convene the meetings of its respective unsecured creditors on 06.11.2020 at 11.00 AM, 1:00 PM and 3:00 PM respectively at the same address i.e. Hotel Clarion Inn Amps, Main Sirhind Road, Patiala-147 001 subject to fresh notice of meeting to be issued. The remaining order and observations made in order dated 27.02.2020 in CA (CAA) No. 4/Chd/Pb/2020 are unchanged. The applicant companies shall advertise the notice in newspapers namely 'Financial Express (English), Chandigarh and Delhi Editions and Jansatta (Hindi), Chandigarh and Delhi Editions and shall also send the individual notices to all the unsecured creditors of all the three Applicant Companies by intimating the change of date of the meeting by duly enclosing this order.
The notice with regard to the meeting originally scheduled to be convened on 18.04.2020 and the receipts for the individual notices and newspaper publication filed alongwith the CA are taken on record.