AI Structured Summary
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Judgment
As on 31.05.2020,Petitioner Company 1,Petitioner Company 2
Equity,1505.30,3705.09
Secured creditors,,
(a) numbers,17,18
(b) value,"13,180.86","19,107.55
Unsecured creditors,,
(a) numbers,321,145
(b) value,1462.88,6158.07
proposed scheme be given by the Petitioner Companies by “Hand Delivery†and acknowledgement of respective secured creditors be obtained,,
clearly mentioning the name, designation, email id and correspondence address of the concerned dealing officer of secured creditor concerned who",,
received the notice. This may be complied within 10 days from the uploading of the order. Further, the Petitioner companies will file an affidavit in this",,
regard that the notices have been served upon the respective secured creditors and consents from secured creditors have been obtained by it for the,,
proposed scheme, wherever the terms and conditions of the loan agreement, mortgage/hypothecation deed etc. provide for such condition of obtaining",,
NOC is stipulated by the secured creditor concerned. This is to be complied at least 3 days in advance, before the next date of hearing i.e. 20th",,
January 2021.,,
Ld. Sr. Counsel for the Petitioner Companies submits that pursuant to the direction given by this Tribunal vide the said Order dated 24th July, 2020,",,
the notice of filing of the Company Application and passing of the said Order, was published in Free Press Journal and Loksatta i.e. in vernacular",,
language Marathi both vide circulations at Maharashtra, Mumbai. The Petitioner Companies have filed the Compliance Report dated 18th August,",,
2020 inter alia proving publication of the said notice of filing of the Company Application No. 1024 of 2020 and passing of the Order in newspapers, as",,
directed by the said Order.,,
(a) Ld. Senior Counsel. Counsel for the Petitioner Companies submits that as directed by the said Order dated 24th July, 2020, the Petitioner",,
Companies have issued their notice of the filing of the Company Application along with a copy of the Company Application and a copy of the said,,
Order to:,,
(i) the Central Government of India (through the Regional Director, Western Region, Ministry of Corporate Affairs);",,
(ii) Registrar of Companies, Mumbai, Maharashtra;",,
(iii) Concerned Income Tax Authorities,",,
(iv) The Securities and Exchange Board of India;,,
(v) Reserve Bank of India;,,
(vi) the Official Liquidator, High Court, Mumbai and",,
(vii) NSE.,,
(b.) in addition to the above, as directed by the said Order, the Petitioner No.1 has issued its notice of the filing of the Company Application No. 1024",,
of 2020 along with a copy of the Company Application and a copy of the said Order to The National Housing Bank and,,
(c.) the Petitioner No.2 has issued its notice of the filing of the Company Application No. 1024 of 2020 along with a copy of the Company Application,,
and a copy of the said Order to The BSE Limited;,,
with a direction that they may submit their representations, if any, to this Tribunal within 30 (Thirty) days of receipt of the said notice. The requisite",,
Compliance Report dated 18th August, 2020, inter alia in regard to the directions given in the said Order has been filed with the Registry of this",,
Tribunal as directed by the said Order. None of the above statutory authorities have filed their representations before Tribunal as yet.,,
As stated hereinabove, Ld. Counsel for the Petitioner Companies states that as directed by this Tribunal the notice of the filing of the Company",,
Application has been published in Free Press Journal and Loksatta i.e. in vernacular language Marathi both vide circulations at Maharashtra, Mumbai,",,
stating therein that the present Company Application has been filed in this Tribunal, and any person concerned may file their representations, if any, to",,
the Scheme in this Tribunal within 30 (Thirty) days from the date of publication of the said notice in the newspapers. The Petitioner Companies are,,
directed to publish the notice of the date of hearing of the Company Scheme Petition, at least 10 (Ten) clear days before the hearing of the said",,
Company Scheme Petition, in the same newspapers i.e. Free Press Journal and Loksatta i.e. in vernacular language Marathi both vide circulations at",,
Maharashtra, Mumbai. In addition to the said direction, the Petitioner Companies are also directed to upload the said notice on the website of the",,
respective Petitioner Companies, if any.",,
The Petitioner Companies are directed to file an affidavit attaching acknowledgement of secured creditors and confirming that the consents have,,
been obtained from their respective secured creditors, wherever applicable, for the scheme along with proving publication of the said notice in the",,
newspapers, as directed herein at least 3 (Three) days before the date fixed for hearing of the Company Petition.",,