Disposed

Pressmaatic Electro Stampings Private Limited v. ---------------------------------------

Bombay HC21 Jan 2011CSD/40/2011

Case brief

AI extract

What is this about?

The Bombay High Court, hearing an application for a summons for direction under Sections 391 and 394 of the Companies Act, 1956, dispensed with meetings for shareholders and creditors to approve a scheme of amalgamation, accepting the existing consent and undertakings filed.

What did the court decide?

The convening of meetings for shareholders and creditors was dispensed with; the undertaking to notify creditors was accepted.

Pressmaatic Electro Stampings Private Limited Vs… — Company and Corporate | Bombay HC (2011)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

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ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY SUMMONS FOR DIRECTION NO 40 OF 2011

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In the matter of Section 391 & 394 of Companies Act, 1956;

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And

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In the matter of Scheme of Amalgamation of Pressmatic Electro Stampings Private Limited and Quadromatic Engineering Private Limited (Transferor Companies) with Hematic Motors Private Limited (Transferee Company) and their Respective Shareholders

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Pressmatic Electro Stampings Private Limited, } Company incorporated under the provisions of } Companies act, 1956 having its registered office } At Plot No. D -2, MIDC Karad Industrial Area, } Pune-Bangalore Road, Near Karad Toll Plaza, } Taswade, Karad - 415109, District Satara, }….Applicant Company

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Called Summons for Direction

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CORAM: S. C. DHARMADHIKARI, J.

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Date: 21^st January, 2011

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Mr. Hemant Sethi i/b. Hemant Sethi & Co., Advocates for the Applicant.

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MINUTES OF THE ORDER

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UPON the application of the Applicant Company abovenamed by a Summons for Direction AND UPON HEARING Mr. Hemant Sethi instructed by Hemant Sethi & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 14^th January, 2011 of Mr. Prashant Vaishampayan, Director of the Applicant Company, in support of Summons for Direction and the Exhibits therein referred to, IT IS ORDERED:

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That convening and holding the meeting of the Equity Shareholders of Pressmatic Electro Stampings Private Limited, the Applicant Company, for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Pressmatic Electro Stampings Private Limited, the Applicant Company and Quadromatic Engineering Private Limited with Hematic Motors Private Limited, the Transferee Company and their Respective Shareholders is dispensed with in view of the consents given

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by all the Equity Shareholders of the Applicant Company, which are annexed as Exhibits “C1” to “C7” to the Affidavit in support of Company Summons for Direction.

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That convening and holding the meetings of the Secured and Unsecured Creditors of Pressmatic Electro Stampings Private Limited, the Applicant Company, for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Pressmatic Electro Stampings Private Limited, the Applicant Company and Quadromatic Engineering Private Limited with Hematic Motors Private Limited, the Transferee Company and their Respective Shareholders is dispensed with in view of averments made in paragraph 24 of the Affidavit in support of Company Summons for Direction. The Applicant undertakes to issue individual notice of hearing of petition by RPAD to all its Secured and Unsecured Creditors and also to publish the notice of hearing of petition in one issue each of a daily newspaper viz ‘Free Press Journal’ in English and ‘Maharashtra Times’ in the Marathi. The said undertaking is accepted.

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That the filing of separate Company Summons for Direction and Company Scheme Petition on behalf of Hematic Motors Private Limited, the Transferee Company is dispensed with in view of the averments made in paragraphs 25 to 27 of the Affidavit in support of the Company Summons for Direction.

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(S. C. DHARMADHIKARI, J. )

Pressmaatic Electro Stampings Private Limited v. ---------------------------------------

Case brief

What is this about?

What did the court decide?

Pressmaatic Electro Stampings Private Limited v. ---------------------------------------

Case brief

What is this about?

What did the court decide?

What the court decided

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