Evolis Card Printer India Private Limited v. ----------
Case brief
What is this about?
In a company summons under Sections 391-394 of the Companies Act, 1956 for a de-merger scheme, the Court dispensed with the need for meetings of various creditor classes due to unanimous written consents and accepted an undertaking for direct notice publication to sundry creditors.
What did the court decide?
Dispensed with meetings of equity shareholders, secured creditors, unsecured loan creditors, and sundry creditors; accepted undertaking to notify sundry creditors individually and via newspapers.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SUMMONS FOR DIRECTION NO. 199 OF 2013
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 RajpurohitCardtec Private Limited and Evolis Card Printer India Private Limited
Evolis Card Printer India 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
Called For Summons For Directions
Ms. Nidhi Shetye, Advocate i/b M/s. Kanga and Company, Advocates for the Applicant
CORAM: N.M. Jamdar, J.
DATE: 22nd February 2013
1
MINUTES OF ORDER
Issues for consideration
2 issues framed by the court
Whether holding meetings of equity shareholders, secured creditors, unsecured loan creditors, and sundry creditors can be dispensed with in a scheme of arrangement.
Whether an undertaking to serve individual notices and publish newspaper notices is sufficient for convening meetings of sundry creditors.
Parties & counsel
- applicant
Evolis Card Printer India Private Limited
Coram
N.M. Jamdar
Case details
As recorded by the court registry
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