Welspun Infra Developers Limited vs Unknown

1. Heard Ms.Dharmishta N. Raval, learned counsel for the petitioner.

2. This petition has been filed by the petitioner Welspun Infra Developers Limited, seeking sanction of the Scheme of Arrangement between Krishiraj Trading Limited ('KTL' or 'the Transferor Company 1'), Welspun Fintrade Private Limited ('WFPL' or 'the Transferor Company 2'), Welspun Mercantile Limited ('WML' or 'the Transferor Company 3'), Welspun Wintex Limited ('WWL' or 'the Transferor Company 4'), Goldenarch Estates Private Limited ('GEPL' or 'the Transferor Company 5'), Welspun Infra Developers Limited ('WIDL' or 'the Page 1 of 3 HC-NIC Page 1 of 3 Created On Thu May 05 02:10:06 IST 2016 O/COMP/166/2016 ORDER Transferor Company 6') and WS Trading and Holding Private Limited ('WTHPL' or 'the Transferor Company 7') with MGN Agro Properties Private Limited ('MGN Agro' or 'the Transferee Company') and their respective Shareholders and Creditors.

3. Ms.Dharmishta Raval, learned advocate for the petitioner has invited the attention of the Court to the order dated 27th April, 2016, made by this Court in Company Application No.207 of 2016, to point out that by the said order, the Court had dispensed with the requirement of convening meeting of the Equity Shareholders of the Petitioner Company, who had given their consent to the proposed Scheme. Similarly, the requirement of convening and holding of the meeting of the Secured Creditors was ordered to be dispensed with, in view of the fact that there are no Secured of the Petitioner Company. Similarly, the requirement of convening and holding of the meeting of the Unsecured Creditors was ordered to be dispensed with.

4. In the aforesaid premises, the requirements of law up to the present stage have been complied with. Hence, the petition is admitted. The same shall be Page 2 of 3 HC-NIC Page 2 of 3 Created On Thu May 05 02:10:06 IST 2016 O/COMP/166/2016 ORDER posted for final hearing on 17th June, 2016.

5. Notice of the petition to be published in the Rajkot editions of the Gujarati Daily newspaper "Kutch Mitra" and the English Daily newspaper "Times of India".

6. There shall be notice to the Central Government in compliance of Section 394(A) of the Companies Act, 1956 through the Regional Director, North Western Region, Ministry of Corporate Affairs, ROC Bhavan, Rupal Park, Ahmedabad.

7. There shall be notice to the Official Liquidator as per Section 394(1) of the Companies Act, 1956.

8. In addition to the normal mode of service, Direct Service is also permitted.

9. The publication of the notice in the Official Gazette is dispensed with.

(SMT. ABHILASHA KUMARI, J.) Gaurav+ Page 3 of 3 HC-NIC Page 3 of 3 Created On Thu May 05 02:10:06 IST 2016