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2021 (1) TMI 449 - Tri - Companies LawApproval of Composite scheme of amalgamation - seeking to dispense the meetings of the Shareholders and Secured Creditors of the Applicant Companies - seeking direction to convene the meeting of the Unsecured Creditors of the Applicant Company No. 1 ,2 & 3 for considering the composite scheme of Amalgamation - Sections 230 to 232 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013 R/w Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 - HELD THAT:- The Companies have followed extant provisions of Companies Act in framing the Scheme in question, which are duly approved by the Board of Directors of the Companies involved. The Statutory Auditor/Chartered Accountants of the Applicant Companies have issued Certificate dated 09th June, 2020 by inter-alia certifying that accounting treatment as prescribed U/s 133 of the Companies Act, 2013 with reference to the Scheme in question is complied with. The Applicant Companies have disclosed all material facts relating to the Scheme in question and filed necessary documents along with the Application. Therefore, we are convinced with the case as made out by the Applicants so as to grant relief as sought for, by dispensing the meeting of the Shareholders and Secured Creditors of the Applicant Companies and to order to convene the meeting of the Unsecured Creditors of the Applicant Companies by appointing the Chairperson and Scrutinizer for convening the meeting by fixing venue, time, quorum etc. Various directions regarding holding and dispensation of various meetings, issued - application allowed.
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