1. Heard learned Advocate Mr. Pavan S. Godiawala for the petitioner.
2. The present petition is filed seeking prayer for sanctioning of the scheme in the nature of amalgamation of the petitioner with GSEC Ltd. The petitioner is the wholly owned subsidiary company of GSEC Ltd.
3. The present petitioner has filed the Company Application No. 101 of 2012 seeking prayers for dispensation of the meetings of the equity shareholders and unsecured creditors pursuant to the obtaining the individual consent letters from each members of both the classes. Upon considering the documents and submissions of the petitioner, this Court has allowed the Company Application No. 101 of 2012 and dispensed with the meeting of both the classes. The copy of the order is annexed with the petition as Annexure 'D' to the petition. Thereafter, the petitioner preferred the Company Petition No. 51 of 2012 for sanctioning of the scheme and the same was withdrawn with liberty to file a fresh petition, as due to inadvertence the petition was filed by the person who was not authorized and hence the petition was permitted to be withdrawn vide order dated 03/04/2012 with liberty to file fresh petition. Accordingly the present petition is filed for sanctioning the scheme.
4. The petition is admitted and fixed for hearing on 04/05/2012. Notice to the Official Liquidator. He is directed to file his report before the date of final hearing of the petition. For the purpose, he is permitted to appoint a Chartered Accountant out of the panel maintained by him to look into the books of the Petitioner Company and submit the report to the Official Liquidator, the cost for which shall be borne by the petitioner company.
5. Notice to the Central Government through the Regional Director, North-Western Region, Ministry of Corporate Affairs. The Regional Director is directed to file his report before the date of final hearing of the petition.
6. Notice of hearing of petition, to be advertised in 'Indian Express' English Daily, and 'Divya Bhaskar', Gujarati Daily, both Ahmedabad Editions. Publication in Government Gazette is dispensed with.
Sd/-
(R.M.
Chhaya, J.) M.M.BHATT Top