9911796707
TMI Blog2020 (12) TMI 817X X X X Extracts X X X X X X X X Extracts X X X X ..... n fixed for hearing on 20th January 2021. 4. Ld. Senior Counsel for the Petitioner Companies submitted that a common order dated 24th July, 2020 passed in the Interlocutory Application No. 1015 of 2020 (IA 1015/MB.IV/2020 in CA (CAA) 1024/MB.IV/2020) C.A (CAA) 1024/MB.IV/2020) ("Order"), by this Tribunal (a.) inter alia allowed amendment to the Scheme by amending clause 22 therein and inter alia directed the Petitioner Companies to file revised Affidavits from the shareholders of the respective Petitioner Companies, consenting to the Scheme, as amended, to be filed along with the Company Petition; (b.) directed that the convening and holding meeting of the equity shareholders of the Petitioner Companies to seek their approval to the Scheme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tation, if any, to the Scheme in this Tribunal within 30 (Thirty) days from the date of publication of the said notice in the newspapers (b) Petitioner Companies to publish the said notice of filing of the Company Application on their websites, if any and (c) to give notice of the filing of the Company Application along with a copy of the Company Application and a copy of the said Order, upon certain statutory authorities, stated in the Order. 5. Ld. Senior Counsel for the Petitioner Companies submitted that pursuant to the said Order dated 24th July, 2020, the Petitioner No. 1 procured revised Affidavits of consent from all the 7 (seven) equity shareholders of Petitioner Company 1 holding the entire share capital of Petitioner Company 1, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unsecured creditors of the respective Petitioner Companies. 8. From the compliance report dated 18.08.2020 and other documents filed by the Petitioner Companies, the Bench observed that although the Petitioner Companies chose to send notices to all Statutory Authorities through Registered Post, notices to Secured and Unsecured Creditor have been sent by private courier "Blue Dart". A certificate from the courier company has been attached of paying Rs. 57 for each such notice sent to the Secured and Unsecured creditors. 9. From the financial statements filed by the Petitioner Companies, the given below is the position at a glance: (Rs. in crores) As on 31.05.2020 Petitioner Company 1 Petitioner Company 2 Equity 1505.30 3705.09 Secu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this Tribunal vide the said Order dated 24th July, 2020, the notice of filing of the Company Application and passing of the said Order, was published in Free Press Journal and Loksatta i.e. in vernacular language Marathi both vide circulations at Maharashtra, Mumbai. The Petitioner Companies have filed the Compliance Report dated 18th August, 2020 inter alia proving publication of the said notice of filing of the Company Application No. 1024 of 2020 and passing of the Order in newspapers, as directed by the said Order. 12. (a) Ld. Senior Counsel. Counsel for the Petitioner Companies submits that as directed by the said Order dated 24th July, 2020, the Petitioner Companies have issued their notice of the filing of the Company Application a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication has been published in Free Press Journal and Loksatta i.e. in vernacular language Marathi both vide circulations at Maharashtra, Mumbai, stating therein that the present Company Application has been filed in this Tribunal, and any person concerned may file their representations, if any, to the Scheme in this Tribunal within 30 (Thirty) days from the date of publication of the said notice in the newspapers. The Petitioner Companies are directed to publish the notice of the date of hearing of the Company Scheme Petition, at least 10 (Ten) clear days before the hearing of the said Company Scheme Petition, in the same newspapers i.e. Free Press Journal and Loksatta i.e. in vernacular language Marathi both vide circulations at Maharas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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