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TMI Blog2021 (8) TMI 1195X X X X Extracts X X X X X X X X Extracts X X X X ..... ed and Unsecured Creditors of the Applicant Companies. 2. Brief facts of the case, as mentioned in the Application, which are relevant to the issue in question, are as follows: (1) M/s. Austin Global Ventures Private Limited (hereinafter referred to as Applicant Company No. 1/'Transferor Company) was incorporated on 21.03.2014 under the Companies Act 2013, on 21.03.2014 having CIN: U67100KA2014PTC074293 and having registered office of the Transferor Company situated at No. 19-02, B-6 Block, Elita Promenade Apartments 18th Main, 7th Phase, J.P. Nagar, Bengaluru-560078. Its Authorised Share Capital is Rs. 2,00,00,000/- divided into 20,00,000 Equity Shares of Rs. 10/- each and the Issued, Subscribed and Paid-up Capital is Rs. 1,01,00,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Share Capital is Rs. 110,00,00,000/- divided into 11,0,00,000 Equity Shares of Rs. 10/- each and the Issued, Subscribed and Paid-up Capital is Rs. 100,00,00,000/- divided into 10,00,00,000 Equity Shares of Rs. 10/- each. The main objects of the Transferee Company inter alia to carry in India or outside and whether as principals, agents, investors, shareholders, partners, joint venture partners, consultants, managers or otherwise the business of being brokers, sub-brokers, dealers or intermediaries of any and all kinds of shares etc. (5) M/s. BOCo LLP, Chartered Accountants, have issued a Certificate dated 08.01.2021 by certifying that there are 07 (Seven) Equity Shareholders in Transferee Company as on 08.01.2021, viz., Mr. Nikhil Kamat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er, the said Chartered Accountants, have issued another Certificate dated 08.01.2021 by certifying that there are no Secured Creditors in Transferor Company/Applicant No. 2. (7) The Board of Directors of the Applicant Companies in its respective meetings held on 08th September, 2020 and 16th October, 2020, have approved and adopted the Scheme of Arrangement. (8) Further, M/s. BOCo LLP, Chartered Accountants, the Statutory Auditors of the Applicant Companies, has issued a Certificate dated 08th January, 2021 by inter alia stating that the accounting treatment referred to in the Scheme is in compliance with applicable Indian accounting standards notified by the Central Government under the Act. (9) The rationale for the Scheme inter-ali ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies involved. The Statutory Auditors/Chartered Accountants of the Companies have also issued respective Certificates by inter-alia certifying the details of shareholders, creditors, and compliance of accounting treatment as prescribed U/s 133 of the Companies Act, 2013 with reference to the Scheme in question. The Applicant Companies have disclosed all the material facts relating to the Scheme in question and filed necessary documents along with the Application. Therefore, we are convinced with the case, made out by the Applicants so as to grant relief as sought for, by dispensing with the meeting of Equity Shareholders, Secured and Unsecured Creditors of the Applicant Companies. 6. In the result, C.A. (CAA) No. 16/BB/2021 is hereby dispos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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