NCLT JUDGEMENT ON RULE 3, 6, 6 (1), 7, 8, 8(2), 12, 14, 230(3) OF THE COMPANIES (COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS) RULES, 2016 AND SECTION 102, 133, 230, 230(3), 230(5), 232 OF THE COMPANIES ACT, 2013

 

NAME		MOBILE NO.	E-MAIL I’D
RANJEET KUMAR		8383098478, 9667769795	rk@courtkutchehry.com
JAI THAKUR		8130703334, 9355723300	jai.thakur@courtkutchehry.com
RAJEEV RANJAN		9334553249	rajiv.ranjan@courtkutchehry.com
ASHOK MISHRA		9718327746	sales@courtkutchehry.com
RAVI KUMAR			ravi.singh@courtkutchehry.com

Prerna Infrastructure P. Ltd Vs. Aditya Timpack P. Ltd, (2020) 07 NCLT CK 0120

NCLT allowed the application filed by the applicant under sections 230-232 of the Companies Act, 2013 ("the Act") read with rule 3 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 ("the Rules"), seeking directions of this Tribunal for dispensation of meeting of the equity shareholders of both the applicant-companies and convening the meeting of unsecured creditors of applicant transferee company for the purpose of considering and if thought fit, approving with or without modification, the scheme of amalgamation between ("applicant-transferor company") and ("applicant-transferee company"). While allowing the application NCLT held that the equity shareholders of both the Companies have given their consent on the proposed scheme.  The transferor company has no secured and unsecured creditors, since there are no creditors, question of convening of meeting and/or dispensation of the meeting does not rise at all. The transferee company has one secured creditor and the consent letter approving the proposed scheme has been obtained and also has 147 unsecured creditors. Having perused the application and the documents annexed therewith, this Tribunal passes the following order: (i) Meetings of equity shareholders, of the applicant-transferor company are hereby dispensed with. There are no secured and unsecured creditors. (ii) Meetings of equity shareholders and secured creditors of the applicant transferee company are hereby dispensed with. (iii) Meeting of unsecured creditors of the applicant-transferee company shall be convened and held at the registered office of the transferee company.