Siemens Limited Vs
Case brief
What is this about?
The Court sanctioned a Scheme of Amalgamation under Sections 391 to 394 of the Companies Act, 1956 between Siemens VAI Metals Technologies Pvt. Ltd., Morgan Construction Company India Pvt. Ltd., and Siemens Limited. The Court held that the Scheme was fair, reasonable, and beneficial to creditors, thereby making the petitions absolute.
What did the court decide?
The Company Scheme Petitions No. 233, 234, and 235 of 2012 were made absolute in terms of the prayers filed.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SCHEME PETITION NO. 234 OF 2012
CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO. 7 OF 2012
SIEMENS VAI METALS TECHNOLOGIES PVT. LTD ……...Petitioner / Transferor
Company No. 1
AND
COMPANY SCHEME PETITION NO. 233 OF 2012
CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO. 6 OF 2012
MORGAN CONSTRUCTION COMPANY INDIA PVT. LTD. ……...Petitioner /
Transferor Company No. 2
Issues for consideration
3 issues framed by the court
Whether the proposed Scheme of Amalgamation is fair, reasonable, and not prejudicial to the rights of creditors or shareholders.
Whether all requisite statutory compliances under Sections 391 to 394 of the Companies Act, 1956 have been fulfilled.
Whether objections raised by unsecured creditors regarding alleged non-payment of dues warrant rejection of the Scheme.
Parties & counsel
- petitioner
Siemens VAI Metals Technologies Pvt. Ltd.
- petitioner
Morgan Construction Company India Pvt. Ltd.
- petitioner
Siemens Limited
Coram
Case details
As recorded by the court registry
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