Allowed

Soft Clad Laminates Private Limited v. -----------------

Bombay HC18 Apr 2013CSD/374/2013

Case brief

AI extract

What is this about?

Indian High Court dispensed with the requirement to convene a meeting of equity shareholders and secured creditors for a scheme of amalgamation under Sections 391-394 of the Companies Act, 1956, as all shareholders had consented and no creditors existed. (

What did the court decide?

Convening and holding of meetings for shareholders and creditors for the scheme of amalgamation are dispensed with.

Soft Clad Laminates Private Limited 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. 374 OF 2013

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In the matter of the Companies Act, 1956

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AND

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In the matter of Sections 391 to 394 of the Companies Act, 1956.

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AND

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In the matter of the Scheme of Amalgamation of

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Soft Clad Laminates Private Limited, Transferor Company No. 1

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Aman Multiplast Private Limited, Transferor Company No. 2 with

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Multiplast Polymer Private Limited. Transferee Company

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Soft Clad Laminates Private Limited Incorporated and registered under the Companies Act, 1956, having its registered office at B/603, Runwal Towers, L.B.S. Road, Mulund (W), Mumbai – 400080.

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) ) ) ) ) ) ) …Applicant

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Called for Summons for Direction

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Mr. Sanjay Udeshi i/b Sanjay Udeshi & Co, Advocate(s) for Applicant.

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Coram: Ranjit More, J

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Dated: 18^th April, 2013

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MINUTES OF ORDER

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Upon the application of the above-named Applicant Company by a Summons for Direction AND upon hearing Shri Sanjay Udeshi, Advocate for the Applicant AND upon reading the Affidavit dated 23^rd November, 2012 of Mrs. Sarika Deshmukh, the Authorised Signatory of the Applicant

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Company of Mumbai 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 Scheme of Amalgamation of Soft Clad Laminates Private Limited Transferor Company No. 1, Aman Multiplast Private Limited Transferor Company No. 2 with Multiplast Polymer Private Limited. Transferee Company, is dispensed with in view of the Consents given by all the two Equity Shareholders of the Applicant Company which are annexed as Exhibits D to D1 to the Affidavit in Support of Summons for Directions.

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That in view of the averments made in paragraph 17 of the Affidavit in support as there are no secured and unsecured creditors of the Applicant Company and hence holding the meeting of secured creditors does not arise.

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(Ranjit More. J)

Soft Clad Laminates Private Limited v. -----------------

Case brief

What is this about?

What did the court decide?

Soft Clad Laminates Private Limited v. -----------------

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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Coram

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