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Judgment
Avinash K. Srivastava, Member (T)
This matter was earlier heard before the bench comprising of Sh. Abni Ranjan Kumar Sinha, Member (Judicial) and Sh. K.K. Vohra, Member (Technical), NCLT, New Delhi, the matter was referred to the Hon'ble Acting President, NCLT, New Delhi under the provisions of 419(5) of the Companies Act, 2013 for constituting a larger bench to decide the issue of dispensation of meeting of the equity shareholders. The Hon'ble Acting President, NCLT, New Delhi, himself decided the matter and passed the following order: "In view thereby, I hereby agree with the view taken by Sh. K.K. Vohra, Hon'ble Member (Technical) holding that NCLT cannot dispense with holding meetings under Section 230(1) of the Companies Act, 2013." Hence, the order passed by majority will prevail.
Order dated 06.10.2020 passed by bench comprising of Sh. Abni Ranjan Kumar Sinha, Member (Judicial) and Sh. K.K. Vohra, Member (Technical), NCLT, New Delhi and order dated 31.05.2021 passed by Hon'ble Acting President are on record.
Thereafter, Order dated 14.07.2021 was passed by bench comprising of Sh. Abni Ranjan Kumar Sinha and Sh. K.K. Vohra vide which the Applicant Companies were directed to convene the meeting of the shareholders on 31.08.2021 through video conferencing. In compliance, Applicant Companies have convened the meeting and newspaper publication dated 27.07.2021 for the convening of meetind is placed on record.
Chairperson's Report dated 02.09.2021 given by Mr. Gulshan Gaba, who is the Appointed Chairman for the meeting of the equity shareholders of the Applicant Companies 1 to 5 has stated that the equity shareholders of each of 5 Applicant Companies have approved the scheme 100%, both in number and value and is placed on record.
Scrutinizer's Report dated 01.09.2021 given by Mr. Pawan K. Goel, who is the appointed scrutinizer for the meeting of the equity shareholders of the Applicant Companies 1 to 5, is placed on record.
In terms of the Chairperson's Report dated 02.09.2021, the application CA(CAA)-75 /2020 stands disposed of. Liberty is granted to Applicant Companies to take appropriate action further.
Let the copy of the order be served to the parties.