Disposed

N.v.Projects Pvt.Ltd. v. ---

Bombay HC15 Feb 2013CSD/175/2013

Case brief

AI extract

What is this about?

The court dispensed with the need to convene meetings for equity and preference shareholders to approve a scheme of amalgamation. It accepted an undertaking to notify unsecured creditors via R.P.A.D. and local newspapers, allowing the applicant to proceed with the petition under the Companies Act, 1956.

What did the court decide?

The convening and holding of meetings of equity and preference shareholders is dispensed with. Attendance of secured creditors is dispensed with on relying on affidavit averments. Notice to unsecured

N.v.Projects Pvt.Ltd. Vs --- — Company and Corporate | Bombay HC (2013)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY SUMMONS FOR DIRECTION NO. 175 OF 2013

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In the matter of the Companies Act, 1956 (1 of 1956); AND In the matter of Sections 391 to 394 of the Companies Act, 1956; AND In the matter of Scheme of Amalgamation OF NV Projects Private Limited INTO NV Realty Private Limited AND their Respective Shareholders } NV Projects Private Limited, a Company } incorporated under the provisions of the } Companies Act, 1956 and having its } Registered office at The Great Oasis, } Plot No. D-13, Street No. 21, MIDC, } Marol, Andheri (East), Mumbai - 400093 }…Applicant Company

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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. Date: 15^th February, 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 Directions AND UPON HEARING Mr. Hemant Sethi instructed by Hemant Sethi & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 24^th day of January, 2013 of Mr. Bharat Joshi,

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Authorised Signatory of the Applicant Company, in support of Summons for Directions and the Exhibits referred to therein IT IS ORDERED :

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That convening and holding of the meeting of the Equity Shareholders of the Applicant Company, for the purpose of considering and, if thought fit, approving with or without modifications, the Scheme of Amalgamation of NV Projects Private Limited into NV Realty Private Limited 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 Exhibit “C-1” and “C-2” to the Affidavit in support of the Summons for Directions.

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That convening and holding of the meeting of the Preference Shareholders of the Applicant Company, for the purpose of considering and, if thought fit, approving with or without modifications, the Scheme of Amalgamation of NV Projects Private Limited into NV Realty Private Limited and their Respective Shareholders, is dispensed with in view of the consent given by the sole Preference Shareholder of the Applicant Company, which is annexed as Exhibit “ D ” to the Affidavit in support of the Summons for Directions.

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That convening and holding of the meeting of the Secured Creditors of the Applicant Company for the purpose of considering and, if thought fit, approving with or without modifications, the Scheme of Amalgamation of NV Projects Private Limited into NV Realty Private Limited and their Respective Shareholders, is dispensed with in view of the averments made in paragraph 12 of the Affidavit in support of the Summons for Directions. The Applicant Company undertakes to serve individual notice of hearing of the Petition by R.P.A.D upon all its Unsecured Creditors and also to publish the same in two local newspapers i.e. Free Press Journal, in English language and translation thereof in ‘Navshakti’ in Marathi language, both having circulation in Mumbai. The said undertaking is accepted.

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That convening and holding of the meeting of the Unsecured Creditors of the Applicant Company for the purpose of considering and, if thought fit, approving with or without modifications, the Scheme of Amalgamation of NV Projects Private Limited into NV Realty Private Limited and their Respective Shareholders, is dispensed with in view of the averments made in paragraph 13 of the Affidavit in support of the Summons for Directions. The Applicant Company undertakes to serve individual notice of hearing of the Petition by R.P.A.D upon all its Unsecured Creditors and also to publish the same in two local newspapers i.e. Free Press Journal, in English language and translation thereof in ‘Navshakti’ in Marathi language, both having circulation in Mumbai. The said undertaking is accepted.

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(N.M. Jamdar, J)

N.v.Projects Pvt.Ltd. v. ---

Case brief

What is this about?

What did the court decide?

N.v.Projects Pvt.Ltd. v. ---

Case brief

What is this about?

What did the court decide?

What the court decided

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