Disposed

Skm Metal Processors Private Limited v. ---------------------------

Bombay HC2 Mar 2012CSD/140/2012

Case brief

AI extract

What is this about?

Company Court dispensed with meetings of equity shareholders, secured creditors, and unsecured creditors for a Scheme of Amalgamation, accepting attached consents and an undertaking to publish notice in newspapers.

What did the court decide?

Convening and holding of meetings for shareholders and creditors is dispensed with; undertaking for individual notices and newspaper publication accepted.

Skm Metal Processors Private Limited Vs… — Company and Corporate | Bombay HC (2012)

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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. 140 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 Metal Processors Private Limited ) a Company incorporated under the Companies ) Act, 1956 and having its Registered office at ) 12, SKM House, 6^th Khetwadi Lane, ) Mumbai – 400 004 ) … Applicant

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Called Out Summons For Direction

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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. Chirag Shah, Director of the Applicant 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 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 all the Equity Shareholders of the Applicant Company which are annexed as Exhibits - “C-1” to “C–6” to the Affidavit in support of the Summons for Direction.

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That convening and holding the meetings of the Secured Creditors and Sundry Creditors of the Applicant Company to consider and approve the proposed Scheme of Amalgamation between the SKM Alloys Private Limited, SKM Metal Processors Private Limited and SKM Industries Private Limited, the Transferor Companies and SKM Steels Limited, the Transferee Company is dispensed with in view of the averments made in paragraph 27 of the Affidavit in Support of the Summons for Directions. The Applicant Company undertakes to issue individual notices of hearing of the Petition by R.P.A.D. to all its Secured and Sundry Creditors and to publish the notice of the hearing of the Petition in two newspapers viz., Free Press Journal in English language and Maharashtra times in Marathi language, both having circulation in Mumbai. The said undertaking is accepted.

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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 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.

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(S. J. Kathawalla, J.)

Skm Metal Processors Private Limited v. ---------------------------

Case brief

What is this about?

What did the court decide?

Skm Metal Processors Private Limited v. ---------------------------

Case brief

What is this about?

What did the court decide?

What the court decided

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