Trendsutra Client Services Private Limited vs Registrar of Companies

Kishore Vemulapalli, Member (Judicial)

The Court is convened through video conferencing today.

Petition admitted.

Petition is fixed for final hearing on 08.02.2022.

Learned Counsel for the Petitioner Companies states that in pursuance of the directions contained in order dated 17th September 2021 passed by

this Tribunal in CA (CAA) No 74 of 2021 (“Orderâ€), the meetings of Shareholders of the Petitioner Companies were

dispensed with in view of consent affidavits filed by all of the Equity as well as Preference Shareholders of the Petitioner Companies. Further, the

meetings of the Secured Creditors were dispensed with in view of Consent Affidavits filed with this Tribunal. The meetings of the Unsecured

Creditors were dispensed with, since there are no compromise or arrangement with Creditors as no sacrifice is called for and no rights of the

Creditors are affected. However, as per the directions contained in the Order notices have been issued to all the Unsecured Creditors of the Petitioner

Companies.

Learned Counsel for the Petitioner Companies states that in pursuance of the directions contained in order dated 17.09.2021 passed by this Tribunal

in CA (CAA) No 74 of 2021, the Petitioner Companies as per the directions in said order served notices upon the (i) Income Tax Authority; (ii)

Central Government through the concerned office of the Regional Director (iii) concerned Registrar of Companies (iv) Official Liquidator in so far as

the First Petitioner Company is concerned (v) Reserve Bank of India and (vi) Goods and Service Tax authorities as per Rule 8 of the Companies

(Compromises, Arrangements and Amalgamations) Rules, 2016.

The Petitioner Companies shall issue notice of final hearing by Registered Post-AD/Speed Post and Hand Delivery upon:

i. Concerned Income Tax Authorities within whose jurisdiction the respective Petitioner Company’s assessments are made;

ii. The Central Government through the office of Regional Director (Western Region), Ministry of Corporate Affairs, Mumbai;

iii. Registrar of Companies, Maharashtra, Mumbai,

iv. Official Liquidator in case of Transferor Company 2

v. Concerned Goods and Service Tax Authorities within whose jurisdiction the respective Petitioner Company’s assessments are made

vi. Reserve Bank of India

At least 10 days before the date fixed for hearing, the Petitioner Companies to publish the notice of hearing of Petition in two local newspapers viz.

‘Financial Express’ in English and translation thereof in ‘Loksatta’ in Marathi, both having circulation in Maharashtra as per rule 16 of

the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The Petitioner Companies will have option to publish notices online in

the respective e-newspaper editions.

The Petitioner Companies shall host notices along with the copy of the scheme on their respective websites, if any.

The Petitioner Companies shall file Affidavit of Service in regard to the directions given by the Tribunal at least three days before the date fixed for

final hearing and do report to this Tribunal that the directions have been duly complied with.