Valeo India Private Limited v.

In the High Court of Judicature at Madras Dated: 07.11.2016 Coram The Honourable Mr.JUSTICE RAJIV SHAKDHER Company Application Nos.992 and 993 of 2016 Valeo India Private Limited Block A, Tecci Park, No.285, Rajiv Gandhi Salai, (OMR Road), Sholinganallur, Chennai, Tamil Nadu - 600 119.

represented by its Company Secretary Mr.Meenakshi Sundaram .... Applicant/Transferor Company in Comp.A.No.992 of 2016 Valeo Lighting Systems India Private Limited 124, Vallam A Village, Sriperumbudur Taluk, Kanchipuram District, Kancheepuram, Tamil Nadu - 602 105 represented by its Director Mr.Sanjay Sethi .... Applicant/Transferee Company in Comp.A.No.993 of 2016 Applications filed under Rule 9, 11(b), 19 & 67 of the Companies (Court) Rules, 1959 read with Sections 391 to 394 of the Companies Act, 1956.

For Applicants : Mr.Pawan Jhabakh ---------- C O M M O N O R D E R

1. The applicants herein pray for dispensing with the convening, holding and conducting of the meeting of the equity shareholders of the applicant company, i.e., transferor company and transferee company and fix a date for presentation of the company petitions.

2. It is seen, on a perusal of the record, that, in so far as transferor company and transferee company are concerned, consent affidavits of the equity shareholders of the respective company have been filed, which are appended as Annexure "10 and 10" at pages 141-160 and 100-106 of the paper book respectively.

2.1. Chartered Accountant Certificates stating that the transferor company and the transferee company are having no secured creditors are also filed, which are appended as Annexure "7 and 7", at pages 102 and 89 of the paper book, respectively.

2.3. Similarly, Chartered Accountant Certificate stating that the transferor company is having 852 unsecured creditors, valued at Rs.63,73,65,496/- is also filed, which is appended as Annexure "8", at page 103-139 of the paper book. Out of 852 unsecured creditors, the transferor company has obtained consents from the 43 unsecured creditors, valued at Rs.38,66,89,646.42, constituting 60.67% of the total owed amount. The consents of 36 unsecured creditors are enclosed to typed set II. Consents from seven unsecured creditors are enclosed to typed set III.

2.4. In so far as transferee company is concerned, it is stated that it has 259 unsecured creditors, valued at Rs.165,76,02,861/-. Chartered

Accountant Certificate affirming the same is also filed, which is appended as Annexure "8", at pages 90-98 of the paper book. Out of 259 unsecured creditors, the transferee company has obtained consents from the 2 unsecured creditors, valued at Rs.145,75,85,392/-, constituting 87.94% of the total owed amount. The said consents are enclosed to typed set II.

3. Taking note of the same, this Court dispenses with the convening and holding of the meeting of the equity shareholders of the respective applicant company, i.e., transferor company and transferee company. The Company Petitions shall be presented on or before 07.12.2016. 07.11.2016 sl

RAJIV SHAKDHER,J.

sl Company Application Nos.992 and 993 of 2016 07.11.2016