2016 (1) TMI 1328

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....e nature of Demerger and Transfer of the Hotel Management Undertaking of Haywood Hospitality India Private Limited to Gujarat JHM Hotels Limited and Restructure of Share Capital of Haywood Hospitality India Private Limited is proposed under Sections 391 to 394 read with Sections 78 and 100 to 103 of the Companies Act, 1956, as well as Section 52 of the Companies Act, 2013. 2. In this regard, th....

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....s as well as the receipt of consent letters from all the Shareholders is annexed as Exhibit' E'. In view of the same, dispensation is sought from convening the meetings of the Equity Shareholders of the applicant Company. Considering the above facts and circumstances and the submissions advanced on behalf of the applicant, the same is hereby granted. 5. The attention of the Court is dra....

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....at the approval of the creditors of the proposed Scheme of Arrangement is not necessary. 6. It is further submitted that notwithstanding the above contention, in compliance with the contractual terms of the loan agreements with the Secured Creditors, the applicant Company shall obtain the approval from its Secured Creditors and place the same on record before the final sanction of the Scheme by....