Nrb Bearings Limited Vs
Case brief
What is this about?
This High Court bench sanctioned a Scheme of Arrangement between NRB Bearings Limited and NRB Industrial Bearings Limited. The court accepted undertakings regarding share capital restructuring and filings, found the scheme fair and reasonable, and made the petitions absolute.
What did the court decide?
Company Scheme Petition Nos. 187 and 188 of 2012 made absolute with directions for scheme authentication, ROC filing, and payment of costs to the Regional Director.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SCHEME PETITION NO 187 OF 2012
CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO 772 OF 2011
NRB BEARINGS LIMITED
…………Petitioner / Demerged Company
AND
COMPANY SCHEME PETITION NO 188 OF 2012
CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO 773 OF 2011
NRB INDUSTRIAL BEARINGS LIMITED
…………Petitioner / Resulting Company
Issues for consideration
1 issue framed by the court
Whether to sanction the Scheme of Arrangement between NRB Bearings Limited and NRB Industrial Bearings Limited under Sections 391 to 394 and 100 to 103 of the Companies Act, 1956.
Parties & counsel
- petitioner
NRB Bearings Limited
- petitioner
NRB Industrial Bearings Limited
Coram
S. J. Kathawalla
Case details
As recorded by the court registry
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