TMI Blog2021 (9) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... r arrangement. The scheme is approved - application allowed. - IA No. 03/CTB/2020 in TP No. 258/CTB/2019 (earlier CP No. No. 195/KB/2018) - - - Dated:- 6-8-2021 - Rajasekhar V.K., Member (J) And Satya Ranjan Prasad, Member (T) For the Appellant : Ambika Prasad Mohanty, Chartered Accountant ORDER Satya Ranjan Prasad, Member (T) 1. The sanction of this Tribunal is sought under Sections 230 to 232 of the Companies Act, 2013, to a Scheme of Amalgamation (hereinafter referred to as Scheme ) of HINDUSTHAN TECHNOLOGIES PRIVATE LIMITED, the Transferee Company with SEEMIYETIC REFRACTORIES PRIVATE LIMITED, the Transferor Company. 2. The Transferor Company and the Transferee Company have approved the said Scheme by passing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the above facts, it was mentioned in Para 2 of the order to hold separate meeting of creditors, both secured and unsecured of both transferor and transferee companies. 6. Directions are sought in this Application from this Tribunal, under whose jurisdiction the matter falls now, to rectify the Order passed by the NCLT Kolkata Bench in this matter on 12.10.2018, for dispensing of the meeting of secured creditors and the unsecured creditors of both the transferor and transferee companies namely Systematic Refractories Private Limited and Hindusthan Technologies Private Limited respectively. 7. Learned counsel for petitioner submits that this application has been filed in NCLT Form No. 9 in terms of sub rule (2) of Rule 154 of NCLT Ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Axis Bank, Jagatpur Branch, Cuttack, Odisha has given its consent and therefore holding of meeting is not required and therefore meeting of the secured creditor of the transferee company is required to be dispensed with. 14. It is noted by this Tribunal that the consent given by Axis Bank is on the letter head of the Bank and not by way of an affidavit as has been specified under the Companies Act, 2013. The Petitioner produced the required Affidavit along with the relevant certificate from the Chartered Accountant on July 22, 2021. 15. The Applicant/Transferee Company submits that the unsecured creditors of the transferee company had also given their consent via affidavit with regard to the Scheme of Amalgamation between the transfe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l of I.A. No. 3 of 2020 connected with T.P. No. 258/CTB/2019 connected with C.A.(AA) No. 195/KB of 2018 for hearing on 01.07.2021 via video conferencing whereby this Tribunal under section 230(9) directed the applicant to furnish the affidavit of consent by the secured creditors within two weeks i.e., by 15.07.2021, which the applicant has duly submitted. ORDER i) IA No. 3/CTB/2020 connected with T.P. No. 258/CPB/2019 was taken up, after being mentioned by the Ld. Counsel for the Petitioner, Mr. Ambika Prasad Mohanty dated 01.07.2021. ii) In para 2 of the order dated 12.10.2018, it was directed to hold separate meeting of creditors, both secured and unsecured of both transferor and transferee companies, which may not be requir ..... X X X X Extracts X X X X X X X X Extracts X X X X
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