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TMI Blog2021 (8) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... mpromises, Arrangements and Amalgamations) Rules, 2016 in relation to the Scheme of Amalgamation (hereinafter referred to as the "SCHEME") as contemplated between the companies and annexed as "Annexure A1" to the typed set filed along with the Application. 2. The Applicant Companies in this present Company Application have sought for the following reliefs: Equity Shareholders Secured Creditors Unecured Creditors Transferor Company To dispense with the meeting NIL To dispense with the meeting Transferee Company To dispense with the meeting NIL To dispense with the meeting 3. An affidavit in support of the above application is sworn for and behalf of the Transferor and Transferee Company by one Mr. Aswin M. Shah and Mr. R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d under Section 230 of the Companies Act, 2013 has sought for dispensation with holding of their meeting. 5. In relation to the Transferee Company, it is seen from the list of Equity shareholders placed at page 195 to 196 of the typed set filed along with the Application that the Transferee Company has 15 Equity Shareholders and all the 15 Equity Shareholders have given their respective consents by way of affidavits, which are placed at pages 197 to 232 of the typed set filed with the application and sought for dispensation with holding of meeting. It is further represented by the Counsel for Applicant that the Transferor Company has NIL Secured Creditors and the certificate issued by the Chartered Accountants to this effect is placed at p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany is a Private limited company incorporated under the provisions of Companies Act, 1956 on 19.02.1993, with Registrar of Companies, Tamil Nadu. The Authorized Share Capital of the Transferee Company is Rs. 50,00,000/- (Rupees Fifty Lakh Only) consisting of 50,000 Equity Shares of Rs. 100/- each. The Issued, Subscribed and Paid-up Capital of the Transferee Company is Rs. Rs. 32,50,000/- (Rupees Thirty two Lakhs and Fifty thousand only) consisting of 32,500 Equity Shares of Rs. 100/- each. 9. The Applicant companies has filed its Memorandum and Articles of Association inter alia delineating its object clauses as well as their last available Audited Annual Accounts for the year ended 31.03.2020 and Unaudited Provisional statement as on 30. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re are NIL Secured and hence the necessity of convening a meeting does not arise. (iv) With respect to Unsecured Creditors: It is represented by the Transferor Company that there are 2 Unsecured Creditor in the Company and consent affidavits obtained by 1 Unsecured Creditors constituting 91.87% of the total value of credit is placed on record, the necessity of convening and holding a meeting to consider and if thought fit, the approval of the scheme is dispensed with. B) IN RELATION TO THE TRANSFEREE COMPANY: (i) With respect to Equity shareholders: It is represented by the Transferee Company that there are 15 Equity shareholders in the Company whose consents by way of affidavits have been obtained and are placed on record, the ne ..... X X X X Extracts X X X X X X X X Extracts X X X X
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