Allowed

Rajpurohit Cardtec Private Limited v. ------------

Bombay HC22 Feb 2013CSD/198/2013

Case brief

AI extract

What is this about?

Single judge order dispensing with the requirement to convene meetings for equity shareholding, secured creditors, unsecured loan creditors, and sundry creditors to approve a de-merger scheme, accepting written consents and an undertaking to serve notices.

What did the court decide?

Convening and holding of meetings for all stakeholders to approve the scheme of arrangement is dispensed with.

Rajpurohit Cardtec 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. 198 OF 2013

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In the matter of Companies Act, 1956 (1 of 1956); And In the matter of Sections 391 to 394 of the Companies Act, 1956; (1 of 1956) And In the matter of Scheme of Arrangement (De-merger) Between Rajpurohit Cardtec Private Limited and Evolis Card Printer India Private Limited

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Rajpurohit Cardtec Private Limited	)
a company incorporated under	)
the Companies Act, 1956 and	)
having its Registered Office at	)
CPE Plots, BSD Marg, Govandi,	)
Mumbai 400088.	)	…Applicant Company

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Called For Summons For Directions

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Ms. Nidhi Shetye, Advocate i/b M/s. Kanga and Company, Advocates for the Applicant

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CORAM: N.M. Jamdar, J.

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DATE: 22^nd 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 Direction AND UPON HEARING Ms. Nidhi Shetye, Advocate instructed by Kanga and Company, Advocates for the Applicant Company, AND UPON READING the Affidavit dated 10^th day of January 2013 of Mr. Jagdish Rajpurohit, Director 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 Arrangement Between Rajpurohit Cardtec Private Limited, and Evolis Card Printer India Private Limited, is dispensed with in view of the consents given in writing by all four equity shareholders of the Applicant Company as per the list annexed at Exhibit “C” and Original Consent Letters being Exhibits “D-1” to”D-4” to the Affidavit in support of this Company Summons for Direction.;

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That convening and holding the meeting of the Secured Creditors of the Applicant Company for the purpose of considering and if thought fit, approving with or without

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modification(s) the proposed Scheme of Arrangement Between Rajpurohit Cardtec Private Limited, and Evolis Card Printer India Private Limited, is dispensed with in view of the averment made in paragraph (17) and consent is given by both the Secured Creditors as per the list annexed at Exhibit “F” and Original Consent Letters being Exhibits “G-1” to”G-2” 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 Loan Creditor of the Applicant Company for the purpose of considering and if thought fit, approving with or without modification(s) the proposed Scheme of Arrangement Between Rajpurohit Cardtec Private Limited, and Evolis Card Printer India Private Limited, is dispensed with in view of the averment made in paragraph (18) and consent in writing to the proposed Scheme is given by the sole Unsecured Creditor of the Applicant Company being Exhibit “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 Sundry Creditors of the Applicant Company for the purpose of considering and if thought fit, approving with or without modification(s) the proposed Scheme of Arrangement Between Rajpurohit Cardtec Private Limited, and Evolis Card Printer India Private Limited, is dispensed with in view of the averments made in paragraph (19) and the Applicant Company undertakes to serve individual notice of the date of the hearing of the Petition upon all its sundry creditors as per the list annexed at Exhibit ‘I’ to the Affidavit in support of

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this Company Summons for Direction and also to publish the same in two newspapers i.e. ‘Free Press Journal’ in English and translation thereof in ‘Navshakti’ in Marathi, both having circulation in Mumbai. The said undertaking is accepted.

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(N.M. Jamdar, J.)

Rajpurohit Cardtec Private Limited v. ------------

Case brief

What is this about?

What did the court decide?

Rajpurohit Cardtec Private Limited v. ------------

Case brief

What is this about?

What did the court decide?

What the court decided

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