Disposed

Skm Alloys Private Limited v. ----------------------

Bombay HC2 Mar 2012CSD/139/2012

Case brief

AI extract

What is this about?

Upon summons for direction regarding a scheme of amalgamation, the court dispensed with meetings for equity shareholders, secured creditors, and unsecured creditors due to unanimous consents provided in the supporting affidavit.

What did the court decide?

Directions dispensed with meetings of shareholders, secured creditors, and unsecured creditors for the proposed scheme of amalgamation.

Skm Alloys Private Limited Vs ---------------------- — Specific Performance | Bombay HC (2012)

¶1

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. 139 OF 2012

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In the matter of Sections 391 and 394 of the Companies Act, 1956; (1 of 1956)

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And In the matter of Scheme of Amalgamation of SKM Alloys Private Limited, SKM Metal Processors Private Limited, SKM Industries Private Limited with SKM Steels Limited

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SKM Alloys Private Limited ) a Company incorporated under the provisions of the ) Indian Companies Act, 1913 and having its ) Registered Office at 1004, 66, C.P. Tank Road, ) Mumbai 400 004. ) … Applicant

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Called Out Summons For Directions

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CORAM: S.J. Kathawalla, J.

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DATE: 2^nd March 2012

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Ms. Deepti Nagpal, Advocate i/b M/s. Kanga and Company, Advocates for the Applicant

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MINUTES OF ORDER

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Upon the application of the Applicant Company abovenamed by a Summons for Direction AND UPON HEARING Ms. Deepti Nagpal, Advocate instructed by Kanga and Company, Advocates for the Applicant Company, AND UPON READING the Affidavit dated 9^th day of January 2012 of Mr. Amit K. Shah, Director of the Applicant

¶13

¶14

Company, in Support of the Summons for Direction and the Exhibits therein referred to, IT IS ORDERED :-

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That convening and holding of the meeting of the Equity Shareholders of the Applicant Company, to consider and approve the proposed Scheme of Amalgamation of the SKM Alloys Private Limited, SKM Metal Processors Private Limited and SKM Industries Private Limited, the Transferor Companies with SKM Steels Limited, the Transferee Company is dispensed with in view of the consents given by both the Equity Shareholders of the Applicant Company which are annexed as Exhibits - “C-1” and “C – 2” to the Affidavit in support of the Summons for Direction.

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There are no Secured or Sundry Creditors in the Applicant Company as stated in paragraph 27 of the Affidavit in support of the Summons for Direction. Hence, the question of convening and holding the meeting of Secured and Sundry Creditors does not arise.

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That the convening and holding of the meeting of the Unsecured Creditors of the Applicant Company to consider and approve the proposed Scheme of Amalgamation of SKM Alloys Private Limited, SKM Metal Processors Private Limited and SKM Industries Private Limited, the Transferor Companies with

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SKM Steels Limited, the Transferee Company is dispensed with in view of the consent given by the sole Unsecured Creditor of the Applicant Company which is annexed as Exhibit “E-1” to the Affidavit in support of the Summons for

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Direction.

¶21

(S. J. Kathawalla, J.)

Skm Alloys Private Limited v. ----------------------

Case brief

What is this about?

What did the court decide?

Skm Alloys Private Limited v. ----------------------

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Statutes considered

Parties & counsel

Coram

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