Disposed

Abhinandan Gems Private Limited Vs

Bombay HC18 Jan 2013CSD/16/2013

Case brief

AI extract

What is this about?

In a Company Summons for Direction, the High Court dispensed with convening meetings of equity shareholders, secured creditors, and unsecured creditors of the applicant company for approving a proposed scheme of amalgamation, relying on annexed consents.

What did the court decide?

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

Abhinandan Gems Private Limited Vs — Specific Performance | Bombay HC (2013)

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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 16 OF 2013

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In the matter of Companies Act,1956

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AND

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In the matter of Section 391 & 394 of Companies Act, 1956;

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AND

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In the matter of Scheme of Amalgamation

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Abhinandan Gems Private Limited,

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AND

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Bright Diamonds Private Limited

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AND

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Crown Gems Private Limited

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AND

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Dhadda Exports Private Limited

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WITH

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Dhadda Diamonds Private Limited -

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Abhinandan Gems Private Limited, a Company }

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Incorporated under the provisions of Companies } Act, 1956 having its registered office at 1208, } Panchratnamama, Parmanand Marg, Opera House, }

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Mumbai, Maharashtra-400 004. } …………Applicant Called for Summons for Direction

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Mr. Hemant Sethi i/b. Hemant Sethi & Co., Advocate for the Applicant

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Coram: N.M. Jamdar, J.

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Date: 18^th January, 2013

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MINUTES OF ORDER

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UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Hemant Sethi instructed by Hemant Sethi & Co., Advocates for the Applicant Company, AND UPON READING the affidavit dated 30^TH October, 2012 of Mr. Dilip Devendra Kochar, Authorised Signatory 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 the meeting of the Equity Shareholders of the Applicant Company for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Abhinandan Gems Private Limited, Bright Diamonds Private Limited, Crown Gems Private Limited and Dhadda Exports Private Limited (Transferor Companies) with Dhadda Diamonds Private Limited, ‘the Transferee Company’ and their respective shareholders, is dispensed with in view of the consents given by both the Equity Shareholders of the Applicant Company, which are annexed as Exhibits ‘C1’ to C6’ to the Affidavit in support of the Summons for Direction.

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There are no Secured Creditors in the Applicant Company as stated in paragraph 12 of the Affidavit in support of Company Summons for Directions. Hence the question of convening and holding the meeting of the Secured Creditors does not arise.

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That convening and holding the meeting of the Unsecured Creditor of the Applicant Company for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation of Abhinandan Gems Private Limited, Bright Diamonds Private Limited, Crown Gems Private Limited and Dhadda Exports Private Limited (Transferor Companies) with Dhadda Diamonds Private Limited, ‘the Transferee Company’ and their respective shareholders, is dispensed with in view of the consent given by sole Unsecured Creditor of the Applicant Company, which is annexed as Exhibit ‘D1’ to the Affidavit in support of the Summons for Direction.

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(N.M. Jamdar, J)

Abhinandan Gems Private Limited Vs

Case brief

What is this about?

What did the court decide?

Abhinandan Gems Private Limited Vs

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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