TaxTMI 
TaxTMI 
2021 (9) TMI 634
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.... (i) issued notice dated 6th April, 2021 under section 230(5) of the Companies Act, 2013 along with all accompanying documents to the statutory authorities. (ii) published an advertisement on 11th April, 2021 in the 'Financial Express' in English and 'Aajkaal' in Bengali, intimating the shareholders about the date, time and venue of the shareholders meeting(s) of the concerned Applicant Companies. (iii) the Transferee Company/Applicant Company No. 5 had issued notice dated 17th April, 2021 to all its unsecured creditors having debt outstanding of a value more than Rs. 13,00,000/- as per the list of unsecured creditors. (iv) sent notices for convening the equity shareholders meetings along with all documents required to be enclosed thereto including a copy of the scheme, statement prescribed under the provisions of the Companies Act disclosing necessary details and the prescribed form of proxy to each of the shareholders of the concerned Applicant Companies thirty clear days before the date of convening the meeting. (v) submitted an affidavit on 13th May, 2021 demonstrating service of notices of meetings, notices issued to ....
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....n, therefore, the requirement for convening meetings of creditors (secured and/or unsecured) of the Applicant Companies Nos. 1 to 4 does not arise. 7. It is stated that the position with regard to the secured creditors of the Applicant Company No. 5/Transferee Company continues to remain the same, i.e., NIL as would be evident from the certificate issued by the chartered accountant at page-246 of the Application, therefore, the requirement for convening meeting of secured creditor of the Applicant Company No. 5 does not arise. 8. It is stated that by the earlier order dated 22nd February, 2021 the Applicant Company No. 5 was directed to issue notices to all the unsecured creditors of the Applicant Company No. 5 having debt outstanding of a value more than Rs. 13,00,000/- (which represented 91.71% of value of the total unsecured creditors) and the requirement of convening the meeting of the unsecured creditors of the Applicant Company No. 5 had been dispensed with. It is further stated that currently all unsecured creditors of the Applicant Company No. 5 updated as on 31st March, 2021 and listed at pages 247-249 of the Application which has been certified by the chartered acco....
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....3 to the statutory authorities. 11. Upon perusing the records and documents in the instant proceedings and considering the submissions made on behalf of the Applicant Companies, we allow the instant application and make the following orders: (a). Meetings to be held - Date and Time: Meeting(s) of the Equity Shareholders of the Applicant Companies shall be convened and held physically at Trinity Plaza, 3rd Floor, 84/1A, Topsia Road (South), Kolkata - 700046 at the following time on 16th September, 2021 (Thursday) subject to the orders of the Government with regard to restrictions due to Covid then in force permitting the same:- i. Meeting of Equity Shareholders of Applicant No. 1 at 10.00 AM. ii. Meeting of Equity Shareholders of Applicant No. 2 at 11.00 AM. iii. Meeting of Equity Shareholders of Applicant No. 3 at 12.00 PM. iv. Meeting of Equity Shareholders of Applicant No. 4 at 1.00 PM. v. Meeting of Equity Shareholders of Applicant No. 5 at 2.00 PM. (b). Mode of Meetings: The meetings, as above, be convened and held physically on 16th September, 2021 at Trinity Plaza, 3rd Floor, 84/1A, Topsia Road (South), Kolkata....
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....i as per Rule 7 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. (e) Quorum and Attendance: The quorum for the said meeting(s) of persons entitled to attend the same shall be determined in accordance with Section 103 of the Companies Act, 2013. For the meetings to be held physically, only attendance of such persons physically at the venue shall be counted for quorum. In case the quorum of any meeting is not present within half an hour from the time appointed for the meeting, the Chairperson may adjourn such meeting at any date/time and take a decision on the quorum for the adjourned meeting. It is clarified that if the meetings are held in Virtual Mode, attendance of such persons in Virtual Mode shall be counted for the purpose of quorum. Attendance at such meetings shall be recorded in the minutes of the meetings instead of taking physical attendance slips. (f) Mode of Voting: At the venue of the meetings held physically, voting shall be conducted physically by polling paper/electronically by e-voting. However, if the meetings are held in Virtual Mode, then subject to directions and matters dealt with herein, the procedure for voting an....