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Judgment
The Court is convened through videoconference today.
Petition admitted.
Petition fixed for hearing and final disposal on 15.02.2021.
Learned Advocate for the Petitioner state that in pursuance of the directions contained in the Order dated May 1st, 2020 passed by this Bench in Company Application No.4057 of 2019, the meetings of Equity Shareholders of the Transferor Companies were dispensed with in view of the Company Scheme Application, inter-alia stating therein that the consents of all the Equity Shareholders in all the Transferor Companies have been obtained.
That there are no Secured Creditors in the Petitioner Companies, therefore, question of convening meeting and issue of notices to them did not arise.
That in pursuance of the directions contained in order dated May 1st, 2020 passed by this Tribunal in C.A.(CAA) No.4057/MB/2019 and meeting of the unsecured creditor of the Transferee Company is dispensed with in view of consent affidavits filed by all of the unsecured creditors of the Transferee Company.
The Learned Advocate for the Petitioner Companies further submits that by an Order dated 1st May, 2020 in Company Application No.4057 of 2019, the Petitioner Companies have served notice upon:- (i) concerned Income Tax Authorities (alongwith PAN Number) within whose jurisdiction the respective Petitioner Company’s assessments are made, (ii) the Central Government through office of the Regional Director, Western Region, Mumbai, (iii) Registrar of Companies, Mumbai (iv) Official Liquidator, Bombay as per Rule 8 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016.
At least 10 (Ten) days before the date fixed for hearing, the Petitioner Companies to publish the notice of hearing of Petition in two local newspapers, viz. Business Standard in English and translation thereof in Navshakti in Marathi, both having circulation in Mumbai as per Rule 15 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The Petitioner Companies will have option to publish notices online in the respective e-newspaper editions
The Petitioner Companies shall issue notices to through R.P.A.D./Speed Post/Email/ hand delivery upon (i) Central Government through Regional Director (Western Region), Ministry of Corporate Affairs, Mumbai, (ii) concerned Registrar of Companies, (iii)Income Tax Authority of the Company concerned clearly indicating PAN of the company, (iv) Official Liquidator informing the date fixed for hearing (v) Unsecured Creditors of the Transferor Companies informing the date fixed for hearing.
The Petitioner Companies shall file proof of compliance electronically 3 (Three) days before the final hearing date as stated in the above paragraph are made there to, report to and do report to this Tribunal that the direction regarding the issue of notice has been duly complied with.