Flair Pens Ltd. v. ---
Case brief
What is this about?
The High Court dispensed with the meetings of shareholders, the secured creditor, and unsecured creditors under the Companies Act, 1956, for approving a scheme of amalgamation, accepting undertakings for separate notices and newspaper publications.
What did the court decide?
Convening of meetings for shareholders, secured creditor, and unsecured creditors for the scheme approval was dispensed with; undertaking for notices and publication accepted.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SUMMONS FOR DIRECTION NO. 662 OF 2013
In the matter of the Companies Act, 1956
And
In the matter of application under section 391 to 394 of the Companies Act, 1956 And
In the matter of Scheme of Amalgamation and Arrangement amongst Ajay Plastics Private Limited, the Amalgamating Company and Flair Pens Limited, the Amalgamated Company. Flair Pens Limited ) a company incorporated under the ) Companies Act, 1956 having its ) registered office at 63, B/C Government ) Industrial Estate, Charkop, ) Kandivali west, Mumbai – 400 067, ) Maharashtra ) ... Applicant Company Called Summons for Direction
Mr. Yogesh Chawak , Mr. Nikhil Patil i/b Legasis Partners, Advocates for Applicant
Date: 11th October, 2013.
Coram: N. M. Jamdar .J.
MINUTES OF ORDERS
Issues for consideration
3 issues framed by the court
Whether the meeting of equity shareholders is necessary for approval of the scheme.
Whether the meeting of secured creditors is required given their consent.
Whether the meeting of unsecured creditors can be dispensed with pending individual notices.
Parties & counsel
- applicant
Ajay Plastics Private Limited
Coram
N. M. Jamdar
Case details
As recorded by the court registry
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