Partly allowed

Suprabha Dhatu Raksha Products Private Limited Vs

Bombay HC22 Feb 2013CSD/185/2013

Case brief

AI extract

What is this about?

The Bombay High Court dispensed with meetings of equity shareholders, secured creditors, and unsecured creditors for a proposed scheme of amalgamation due to obtained consents and an undertaking for alternative notification methods.

What did the court decide?

Dispensed with holding meetings for shareholders, secured creditors, and unsecured creditors to approve the amalgamation scheme; unsecured creditors to be notified via individual notice and newspapers

Suprabha Dhatu Raksha Products Private Limited Vs — Company and Corporate | 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. 185 OF 2013

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In the matter of :

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The Companies Act I of 1956

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AND

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In the matter of:

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Sections 391 to 394 of the Companies Act,

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1956;

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AND

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In the matter of Scheme of Amalgamation

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between:

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Jai Suprabha Protective Products Private

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Limited

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AND

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Suprabha Dhatu Raksha Products Private

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Limited

¶18

AND

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Suprabha Protective Products Private

Limited

AND

Their Respective Shareholders and Creditors

¶24

SUPRABHA DHATU RAKSHA PRODUCTS ) PRIVATE LIMITED, Company incorporated ) Under provisions of the Companies Act, 1956, ) having its Registered Office at 21, Saraswat ) Colony, PUNE 411001, Maharashtra, India ) .. Applicant Company

¶25

Called Summons for Direction

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Mr. N. M. Ganguli, Advocate for Applicant

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CORUM : N. M. JAMDAR, J DATE : 22^ND FEBRUARY, 2013.

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MINUTES OF ORDER

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UPON the application of the Applicant Company abovenamed by a Company Summons for Direction AND UPON hearing Mr. N. M. Ganguli, Advocate for the Applicant Company AND UPON reading the Affidavit dated 5^th December, 2012 of Mr. Prabhakar Rao Bantwal, Director of the Company in support of Company Summons for Direction 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

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the Applicant Company, for the purpose of considering, and if thought

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fit, approving, with or without modification(s), the proposed Scheme of Amalgamation between Suprabha Dhatu Raksha Products Private Limited and Jai Suprabha Protective Products Private Limited with Suprabha Protective Products Private Limited and their respective shareholders and creditors, is dispensed with in view of the consents given by all five Equity Shareholders of the Applicant Company as per list of shareholders being Exhibit G which are annexed as Exhibits G-1 to G-5 to the Affidavit in Support of the Company Summons for Direction.

¶34

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 modification(s), the proposed Scheme of Amalgamation between Suprabha Dhatu Raksha Products Private Limited and Jai Suprabha Protective Products Private Limited with Suprabha Protective Products Private Limited and their respective shareholders, is dispensed with in view of averment in paragraph 18 and the consent given by the only one Secured Creditor, which is annexed as Exhibits H to the Affidavit in Support of the Company Summons for Direction.

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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

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fit, approving, with or without modification(s), the proposed Scheme of Amalgamation between Jai Suprabha Protective Products Private Limited and Suprabha Dhatu Raksha Products Private Limited with Suprabha Protective Products Private Limited and their respective shareholders and creditors, is dispensed with in view of averment made in paragraph 19. The Applicant Company undertakes to issue individual notices of date of hearing of Petition to all its Unsecured Creditors by Registered A.D. and also to publish the same in two newspapers viz. Indian Express in English and translation thereof in Loksatta in Marathi, both having circulation in Pune. The said undertaking is accepted.

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( N. M. JAMDAR, J)

Suprabha Dhatu Raksha Products Private Limited Vs

Case brief

What is this about?

What did the court decide?

Suprabha Dhatu Raksha Products 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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