2016 (4) TMI 1257

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.... nature of Demerger and Transfer of Real Estate Undertakings and Portfolio Investment Undertakings, consequential restructure of share capital in form of utilisation of Securities Premium Account of four Demerged Companies and amalgamation of the residue undertakings of the Demerged companies alongwith 28 Transferor companies with Six Vents Power and Engineering Limited the Transferee Company, is ....

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....pectively. It has been submitted that there are no Secured Creditors. The certificates confirming the status of the Shareholders and Creditors as well as the receipt of consent letters from all the Shareholders and Unsecured Creditors are annexed collectively as Exhibit' F'. In view of the same, dispensation is sought from convening the meetings of the Equity Shareholders and Unsecured Creditors o....

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....ection 102 of the Companies Act, 1956 confirming the reduction. It has been further submitted that the approval granted to the present Scheme by the Equity Shareholders of the Applicant Company in form of the consent letters, shall be treated as the Special Resolution as required under Section 100 of the Companies Act, 1956. It is further submitted that, the interests of the creditors of the Appli....