Home Case Index All Cases Companies Law Companies Law + AT Companies Law - 2018 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (8) TMI 1481 - AT - Companies LawScheme of amalgamation - dispensing on aspects mentioned and directions for convening of meetings of creditors of appellant no. 3 - Held that:- We have seen the Scheme of Amalgamation. Only because while filing the first motion, the appellant submitted list of Secured Creditors, we are unable to agree that merely because some of the Secured Creditors of appellant no.3, an ongoing concern have later on been paid, the Scheme as such gets changed. We find that if the learned NCLT was of the view that there is no request in the application for amendment of pleading in the first motion application, it should have in the interest of Justice given opportunity to the applicants to amend the first motion application instead of rejecting the CA. No. 384/2017 on such technical grounds. The impugned order does not show that the various documents filed by the applicants/ appellants were considered. If the impugned order is maintained, the appellants/ original applicants will be put to grave inconvenience and costs as well as delays, which is avoidable in the present set of facts. Pass the following order: (i) The impugned order is quashed and set aside. The matter is remitted back to the learned NCLT. CA no. 384(PB)/ 2017 and CA(CAA)50(PB)/2017 are restored to the file of NCLT, New Delhi. (ii) The learned NCLT should give opportunity to the appellants/ applicants to include pleadings and alternative prayer in the first motion application CA(CAA) no. 50 (PB)/ 2017 requesting for dispensing with calling of meeting of Secured Creditors. (iii) The learned NCLT should give opportunity to the appellants/applicants to include pleadings and alternative prayer in CA no. 384 (PB)/2017 to request for reconvening of meeting of Secured Creditors. (iv) After the appellants/applicants are allowed to amend their pleadings, the learned NCLT should give the appellants/original applicants another opportunity of hearing and may then pass any suitable orders deemed fit.
|