In a suppressio facti matter regarding scheme of amalgamation under the Companies Act, 1956, the High Court dispensed with the convening of shareholders' and creditors' meetings due to unanimous shareholder consent and absence of creditors.
Dispensed with the meeting of equity shareholders and meetings of creditors for the proposed Scheme of Amalgamation.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SUMMONS FOR DIRECTION NO. 663 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.
| Ajay Plastics Private Limited | ) | |
|---|---|---|
| a company incorporated under the | ) | |
| Companies Act, 1956 having its | ) | |
| registered office at 63-B/C, Govt. | ) | |
| Industrial Estate, Charkop, Kandivali | ) | |
| (West), Mumbai-400067, Maharashtra | ) | ... Applicant Company |
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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
UPON the application of the Applicant Company abovenamed by a Summons for Direction AND UPON HEARING Mr. Yogesh Chawak instructed by M/s Legasis Partners, Advocates for the Applicant Company, AND UPON READING the Affidavit dated 12th April, 2013 of Mr. Jitesh Kochar Authorized Signatory of the Applicant Company, in support of the Company Summons for Direction and the Exhibits therein referred to, IT IS ORDERED:-
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(N. M Jamdar J.)
2 issues framed by the court
Whether a shareholders' meeting is required to approve the scheme of amalgamation given unanimous consent.
Whether meetings of secured creditors are required given the absence of secured creditors.
1 provisions across 1 enactments
Ajay Plastics Private Limited
N. M. Jamdar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
