TaxTMI 
TaxTMI 
2021 (7) TMI 38
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....he Applicant No. 2 Company, Rama Synsilk Mills Private Limited, the Applicant No. 3 Company, Jagdish Silk Mills Private Limited, the Applicant No. 4 Company, Swati Processors Private Limited, the Applicant No. 5 Company, Rama Tradelink Private Limited, the Applicant No. 6 Company, Harmony Logistics Private Limited the Applicant No. 7 Company, Sunflower Infrastructure Private Limited, the Applicant No. 8 Company, Lifelong Infrastructure Private Limited, the Applicant No. 9 Company, Lion Organisers Private Limited the Applicant No. 10 Company with Face Developers Private Limited, the Applicant No. 11 Company (hereinafter referred to as "the Applicant Companies"). 2. The Registered Office of all the Applicant Companies are situated in Surat i....
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....ther related benefits. b. The proposed Scheme will enable the companies concerned to rationalize and streamline their management, businesses, and finances and lead to a better economic control, over the running and management of the businesses and undertakings of the said companies. c. The businesses of Transferor Companies and the Transferee Company could be combined conveniently and advantageously and in such manner so as to take up the activities, which will relate more to the business of the Transferee Company. d. The proposed scheme will result in reduction of overheads and other expenses, reduction in administrative and procedural work, eliminate duplication of work, transaction cost, better and more productive utilization of va....
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.... said certificate is placed on record. 8. The Following are the reliefs prayed by the Applicant Companies: a) THAT the meetings of the Equity Shareholders of all the Applicant Companies be dispensed with; b) THAT there being no Secured Creditor in any of the Applicant Companies, their meetings are not necessary; c) THAT the meetings of the Unsecured Creditors of all the Applicant Companies be dispensed with. 9. Heard the submissions of Learned Counsel PCS Kunjal Dalai for the Applicant Companies. 9.1. It is submitted that all the applicant Companies are Private Limited Companies. The Applicant no. 1 Company has 12 Equity Shareholders, Applicant no 2 Company have 4 Equity Shareholders, Applicant No. 3 Company has 7 Equity Shareholde....
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....s be dispensed with since it is not required. 9.4. It is submitted that the Applicant no. 1 Company has 1 Unsecured Creditor, Applicant no 2 Company has 1 Unsecured Creditor, Applicant No. 3 Company has 1 Unsecured Creditor, Applicant No. 5 Company has 1 Unsecured Creditor, Applicant No. 7 Company has 1 Unsecured Creditor, Applicant No. 8 Company has 1 Unsecured Creditor, Applicant No. 9 Company has 6 Unsecured Creditor, Applicant No. 10 Company has 1 Unsecured Creditor and Applicant Transferee Company has 1 Unsecured Creditor. All the above mentioned Unsecured Creditors have given their written consent on affidavits approving the proposed scheme and for waiver of meeting of Unsecured Creditor. The same are placed on record respectively. C....