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TMI Blog2021 (8) TMI 234X X X X Extracts X X X X X X X X Extracts X X X X ..... or brevity the "SCHEME") involving demerger of Six Sigma Soft Ware Private Limited and KMG Infotech Private Limited and Key management Technologies Private Limited. 2. An Affidavit in support of the application sworn for and on behalf of all Applicant Companies has been filed by Mr. Vijay Mendiratta and Ms. Poornima Rampal being the authorized representative of the applicant companies. 3. It is represented that the Scheme does not contemplate any corporate debt restructuring exercise as contemplated under Section 230(2) of the Act. Learned Counsel has taken us through the averments made in the application as well as the typed set of documents annexed there with. 4. It is further represented that the application filed by the applicants is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of affidavit as well as 9 out of 10 unsecured Creditor holding more than 99%o Unsecured Creditors have given their consent in the form of affidavit. Additionally, the consent affidavit of the secured creditor has also been placed on record. 7. In relation to the Applicant Company No. 3 in the Scheme, it has been represented that company has 2 equity shareholders. We are further apprised that the Applicant Company No. 3 has nil Secured and nil Unsecured Creditors. As the company has no secured and no unsecured creditor, the requirement of convening meetings of secured as well as unsecured creditors does not arise. In relation to the Shareholders, the applicant company No. 3 seeks dispensation from convening and holding of their respective m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity Shares of Rs. 10/- each. The present Issued, Subscribed and paid-up Share Capital of the Company is Rs. 10,52,90,660/- divided into 1,05,29,066/- Equity Shares of Rs. 10/- each. 12. Key Management Technologies Private Limited (hereinafter referred to as "Applicant Company No. 3") was originally incorporated on 04.01.2021 in the State of NCT of Delhi within jurisdiction of the Registrar of Companies, NCT of Delhi and Haryana as a Private Limited Company under the provisions of Companies Act, 1956. The present Authorized Share Capital of the Applicant Company No. 2 is Rs. 1,00,000/- divided into 1,00,000 Equity Shares of Rs. 1/- each. The present Issued, Subscribed and paid-up Share Capital of the Company is Rs. 1,00,000/- divided into 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iven their consent affidavits in favour of the scheme have been placed on record. ii. The meeting of Secured creditors is also dispensed with because there are 1 secured creditor in the company and their consent affidavits in favour of the Scheme have been placed on record. iii. The meeting of Unsecured creditors is also dispensed with because there are 1 unsecured creditor in the company and all of their consent affidavits in favour of the Scheme have been placed on record. C. In relation to the Applicant Company No. 3:- i. The meeting of Equity Shareholders is dispensed with as there are 2 equity shareholders in the company and all the equity shareholders have given their consent affidavits in favour of the scheme have been placed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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