TMI Blog2017 (12) TMI 1605X X X X Extracts X X X X X X X X Extracts X X X X ..... e report of the Chairperson dated 24.11.2017 as well as averred in the Application that Small Industrial Development Bank of India being one of the Secured Creditors in relation to Applicant Company No. 1 had sent its representative, however, subsequent to the time prescribed for holding the meeting. It is also further stated that the representative of SIDBI did not have proper authorization to attend the meeting. Thus, it is seen that the holding of meeting has not occasioned due to the fault of the Applicants in complying with the directions of this Tribunal on 6.10.2017 but on the other hand due to reasons beyond its control. Reference to the provisions of Companies Act, 2013 read with Companies (Arrangement and Amalgamation) Rules, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmanship of Mr. Rajiv Kumar, Advocate and Mr. Man Sumer Singh, Advocate appointed as Alternate Chairperson as well as Scrutinizer for the above said meeting. The Applicants aver in the Application that notices of the meetings were duly sent to all the Secured Creditors in relation to the meeting directed to be convened by this Tribunal on 24.11.2017 and the meeting of the Secured Creditors was also convened on the said date namely 24.11.2017. However, it is averred by the Applicants that in the absence of any of the Secured Creditors attending the meeting, the meeting as directed to be called, convened and held was not able to be held on 24.11.2017 which is also evident from the report of the Chairperson which had been filed before this Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this Tribunal. However, in view of the absence of any Secured Creditors, the meeting was not able to be held. It is also evident from the report of the Chairperson dated 24.11.2017 as well as averred in the Application that Small Industrial Development Bank of India being one of the Secured Creditors in relation to Applicant Company No. 1 had sent its representative, however, subsequent to the time prescribed for holding the meeting. It is also further stated that the representative of SIDBI did not have proper authorization to attend the meeting. Thus, it is seen that the holding of meeting has not occasioned due to the fault of the Applicants in complying with the directions of this Tribunal on 6.10.2017 but on the other hand due to reaso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tory statements, proxy form, scheme of amalgamation shall be sent to all the Secured Creditors of Applicant Company No. I by registered post as well as delivered by hand and an affidavit of service shall also be duly filed atleast 7 days before the schedule date of the meeting. 6) Notice of reconvened meeting shall also be published in the Business Standard (in English) Delhi Edition and Jansatta (In Hindi) Delhi Edition at least 30 days prior to the date of the meeting. 7) All other formalities as are required to be complied with by the Applicants in relation to the calling, convening and holding of the above said Secured Creditors meeting as per the provisions 230-232 Companies Act, 2013 and the attendant Rules shall be duly com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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