Semfirst Infra Private Limited v. -

HONOURABLE SRI JUSTI CE CHALLA KODANDA RAM COMPANY APPLI CATI ON No.1422 OF 2016 ORDER:

This Company Application is filed by the M/s. Semfirst Infra Private Limited (Applicant-Transferor Company) seeking a direction to dispense with the meeting of the shareholders of the applicant company for the purpose of considering the proposed Scheme of Arrangement between the applicant company and M/s. Sahasra Infra Private Limited (Transferee Company). It is submitted by the learned counsel for the applicant that the three shareholders of applicant company viz., Ingala Dheeraj Reddy, Ingala Deepak Reddy and Ingala Rajakumari, have given their consent for the scheme of arrangement between Semfirst Infra Private Limited (Applicant-Transferor Company) and the M/s. Sahasra Infra Private Limited (Transferee Company) and they have filed their consent affidavits to that effect.

Therefore, requested to dispense with the meeting of the share holders of the transferor company. Having perused the records, as per the consent affidavits (Annexures H-1 to H-3) the above mentioned shareholders have given their consent/no objection for the proposed Scheme of arrangement (Annexure-A/F). Hence, no useful purpose will be served by directing to convene the shareholders meeting and it is only a futile exercise. Therefore, the applicant has made out a case for dispensing with the meeting of its shareholders for consideration of the proposed scheme of arrangement with Sahasra Infra Private Limited. Accordingly, the company application is allowed. ________________________ CHALLA KODANDA RAM,J Date:30.09.2016.

Ssv