2013 (4) TMI 1017

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....espective shareholders. A copy of the proposed Scheme is enclosed along with the application as Annexure-A. 2. The registered offices of the Applicant companies are situated within the National Capital Territory of Delhi and are within the jurisdiction of this Court. It is stated that the registered office of the Transferor company No. 2 is in the State of Gujarat. The first motion application filed by the Transferor company No. 2 is likely to be heard in the week commencing 15th April 2013. 3. Details of the dates of incorporation of the Applicant companies, their authorized, issued, subscribed and paid up capital have been given in the application. 4. Copies of the Memorandum and Articles of Association as well as the latest audi....

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....quirement of convening their meeting is dispensed with. 10. The Applicant companies are seeking dispensation as regards the meetings of the secured and unsecured creditors of the Applicant companies. It is submitted by the learned Senior counsel appearing on behalf of the Applicant companies that the present Scheme is between the Applicant and Non-Applicant companies and their respective shareholders under Section 391(1)(b) of the Act. It is further submitted that the Scheme does not contemplate any variation of the rights of the secured creditors. The Applicant/Transferee company in terms of the Scheme shall be taking over all the liabilities of the Applicant/Transferor Company No. 1 and undertakes to meet and discharge the same in term....