Disposed

Legrand (India) Private Liited Vs

Bombay HC9 Mar 2012CSD/151/2012

Case brief

AI extract

What is this about?

Court disposed of a Summons for Direction under Sections 391-394 and 100-104 of the Companies Act, 1956 regarding a Scheme of Arrangement between Legrand and Indo Asian Electric. The meeting of equity and unsecured creditors was dispensed with due to consent and lack of unsecured creditors. Notice to unsecured creditors was ordered via undertaking.

What did the court decide?

Meeting of equity share holders, secured creditors and unsecured creditors dispensed with; notice to unsecured creditors by registered post and newspaper publication ordered.

Legrand (India) Private Liited Vs — Specific Performance | 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.151 OF 2012

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In the matter of the Companies Act, 1956;

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And

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In the matter of Sections 391 to 394 of the Companies Act, 1956 read with Sections 78, 100 to 104 of the Companies Act, 1956;

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And

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In the matter of Indo Asian Electric Private Limited

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And

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In the matter of the Scheme of Arrangement of Legrand (India) Private Limited

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With

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Indo Asian Electric Private Limited

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LEGRAND (INDIA) PRIVATE LIMITED a ) company incorporated under the Companies Act, ) 1956, having its registered office at at 61/62, ) Kalpataru Square, 6th floor, Off. Andheri Kurla ) Road , Andheri (East), Mumbai – 400 059. ) …Petitioner Company.

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Called for Summons for Direction

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Coram : S. J. Kathawalla, J.

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Date : 9^th March, 2012

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Mr. Rajesh Shah with Mr. Chandrakant Mhadeshwar i/b M/s. Rajesh Shah & Co., Advocates for the Petitioner

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MINUTES OF THE ORDER

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UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Rajesh Shah instructed by M/s. Rajesh Shah & Co., Advocate for the Applicant Company, AND UPON READING the Affidavit dated 14^th February, 2012 of Mr. Mahesh Desai, DGM Admin, of the Applicant Company, in support of the Summon for Direction and the Exhibits therein referred to, IT IS ORDERED:-

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That the convening and holding the meeting of the Equity Shareholders of the Applicant Company, to consider and approve the proposed Scheme of Arrangement of Legrand (India) Private Limited with Indo Asian Electric Private Limited is dispensed with in view of the consents given by both the Equity Shareholders of the Applicant Company, which are annexed as Exhibits “D-1” and “D-2” to the Affidavit in support of the Summons for Direction.

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That there are no Secured Creditors of the Applicant Company as stated in paragraph 21 of the Affidavit in support of Summons for Direction. Hence, the question of convening and holding the meeting of Secured 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 Arrangement of Legrand (India) Private Limited with Indo Asian Electric Private Limited, is dispensed with in view of the averments made in paragraph 22 of the Affidavit in support of the Summons for Direction. The Applicant undertakes to give individual notice of date of hearing of Petition by Registered Post A. D. to all its Unsecured Creditors and also to publish the same in two local news papers viz. “Free Press Journal”, in English language and translation thereof in “Maharashtra Times”, in Marathi language, both having circulation in Mumbai. The said undertaking is accepted.

Legrand (India) Private Liited Vs

Case brief

What is this about?

What did the court decide?

Legrand (India) Private Liited Vs

Case brief

What is this about?

What did the court decide?

What the court decided

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