2021 (7) TMI 38

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....ompany, Rama Polysynth Private Limited the Applicant No. 2 Company, Rama Synsilk Mills Private Limited, the Applicant No. 3 Company, Jagdish Silk Mills Private Limited, the Applicant No. 4 Company, Swati Processors Private Limited, the Applicant No. 5 Company, Rama Tradelink Private Limited, the Applicant No. 6 Company, Harmony Logistics Private Limited the Applicant No. 7 Company, Sunflower Infrastructure Private Limited, the Applicant No. 8 Company, Lifelong Infrastructure Private Limited, the Applicant No. 9 Company, Lion Organisers Private Limited the Applicant No. 10 Company with Face Developers Private Limited, the Applicant No. 11 Company (hereinafter referred to as "the Applicant Companies"). 2. The Registered Office of all the A....

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.... conducting trade and business on favorable terms and other related benefits. b. The proposed Scheme will enable the companies concerned to rationalize and streamline their management, businesses, and finances and lead to a better economic control, over the running and management of the businesses and undertakings of the said companies. c. The businesses of Transferor Companies and the Transferee Company could be combined conveniently and advantageously and in such manner so as to take up the activities, which will relate more to the business of the Transferee Company. d. The proposed scheme will result in reduction of overheads and other expenses, reduction in administrative and procedural work, eliminate duplica....

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....g the proposed, Accounting Treatment being in conformity with the Applicable Accounting Standard. The said certificate is placed on record. 8. The Following are the reliefs prayed by the Applicant Companies: a) THAT the meetings of the Equity Shareholders of all the Applicant Companies be dispensed with; b) THAT there being no Secured Creditor in any of the Applicant Companies, their meetings are not necessary; c) THAT the meetings of the Unsecured Creditors of all the Applicant Companies be dispensed with. 9. Heard the submissions of Learned Counsel PCS Kunjal Dalai for the Applicant Companies. 9.1. It is submitted that all the applicant Companies are Private Limited Companies. The Applicant no. 1 Compan....

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.... has been placed on record respectively. Hence, it is prayed that the meeting of Unsecured Creditors of Applicant No. 4 & 6 companies be dispensed with since it is not required. 9.4. It is submitted that the Applicant no. 1 Company has 1 Unsecured Creditor, Applicant no 2 Company has 1 Unsecured Creditor, Applicant No. 3 Company has 1 Unsecured Creditor, Applicant No. 5 Company has 1 Unsecured Creditor, Applicant No. 7 Company has 1 Unsecured Creditor, Applicant No. 8 Company has 1 Unsecured Creditor, Applicant No. 9 Company has 6 Unsecured Creditor, Applicant No. 10 Company has 1 Unsecured Creditor and Applicant Transferee Company has 1 Unsecured Creditor. All the above mentioned Unsecured Creditors have given their written consent on a....