Single judge order dispensing with shareholder, secured creditor, and unsecured creditor meetings for a scheme of arrangement based on unanimous consents and assurances that unsecured creditors' rights are unaffected.
Dispensed with meetings of equity shareholders, secured creditors, and unsecured creditors for the scheme of arrangement.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SUMMONS FOR DIRECTION NO. 665 OF 2013
In the matter of the Companies Act, 1956 (1 of 1956);
AND
In the matter of Sections 391 to 394 Read With Sections 100 T0 103 of the Companies Act, 1956;
AND
In the matter of G: Corp Developers Private Limited;
AND
In the matter of Scheme of Arrangement between G:Corp Properties Private Limited, G: Corp Developers Private Limited and their respective Shareholders.
G: Corp Developers Private Limited, a ) company incorporated under the ) Companies Act, 1956 and having its ) registered office at 406/407, 4th Floor, ) Trade World, ‘B’ Wing, Lower Parel, ) Mumbai - 13, Maharashtra ) …. Applicant Company
Called Summons for Direction
Mr. Harshad Gada, i/b Desai Desai Carrimjee & Mulla, for Applicant Company
Coram: N. M. Jamdar, J.
Date: 4th October, 2013.
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MINUTES OF THE ORDER
UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Harshad Gada, instructed by Desai Desai Carrimjee & Mulla., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 19th August, 2013 of Mr. Harmohan Sahni, Director of the Applicant Company, in support of Summons for Direction and the exhibits referred to therein, IT IS ORDERED :
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for approving with or without modifications, the proposed Scheme of Arrangement between the G:Corp Properties Private Limited G: Corp Developers Private Limited and their respective shareholders, is dispensed with in view of the averment made in para 20 of the Affidavit in support of the Summons for Directions inter alia stating that the rights of the Unsecured Creditors of the Applicant Company will not be affected adversely with the proposed Scheme of Arrangement as post demerger the assets of the Applicant Company will be sufficient to discharge the liabilities of the Unsecured Creditors and that the Applicant Company undertakes to issue individual notice of the hearing of the petition by R.P.A.D. to all the Unsecured Creditors and also publish the same in two newspapers viz. ‘The Free Press Journal’ in English language and the translation thereof in ‘Navshakti’, in Marathi Language, both having circulation in Mumbai. The said undertaking is accepted.
(N. M. Jamdar, J.)
1 provisions across 1 enactments
G: Corp Developers Private Limited
N.M. Jamdar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
