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Judgment
This is an application filed by the applicant companies, invoking provisions of sections 230 to 232 and other applicable provisions of the Companies
Act, 2013 read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 in relation to the Scheme of Amalgamation (for
brevity the ""Scheme"") proposed amongst them. The applicants have preferred the instant joint application for the following purpose as is evident from
a perusal of the relief clause of the Application, namely:
a. Dispense with the requirement of convening meetings of Secured Creditors of the Transferor Company and the transferee Company.
b. Pass such other/further order as this Hon'ble Tribunal may deem fit and proper.
In respect to the secured creditor of both the transferor and the transferee company, a request for dispensing with the meetings had been made by
the companies but no affidavit from the secured creditor of both the companies had been filed. Hence, the Hon'ble tribunal vide the order dated
29.10.2018 directed to hold the meeting of the Secured creditors of both the companies.
It is stated that there is 1 secured creditor each in both the Transferor and the transferee Company and the consent affidavit dated 30.11.2018 from
the said secured creditors have been filed and placed on record that it has no objection to the Scheme of amalgamation.
In view of the above the present joint application stands allowed by dispensing with the meetings of secured creditor of both the applicant
companies.
Let copy of the order be served to the parties.