Disposed

Unistar Telecom Services Pvt.Ltd. v. --

Bombay HC11 Oct 2013CSD/681/2013

Case brief

AI extract

What is this about?

This order dispensed with the need to convene meetings of equity shareholders and secured creditors for a proposed scheme of amalgamation due to existing consents and lack of secured creditors, while mandating notice to unsecured creditors.

What did the court decide?

Meeting of equity shareholders dispensed with; meeting of secured creditors not required; meeting of unsecured creditors dispensed with subject to service of notice and newspaper publication.

Unistar Telecom Services Pvt.Ltd. Vs -- — Company and Corporate | Bombay HC (2013)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

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ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY SUMMONS FOR DIRECTION NO. 681 OF 2013.

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In the matter of the Companies Act 1 of 1956);

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AND

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In the matter of Section 391 to 394 read with section 78, 100 to 105 of the Companies Act, 1956; AND

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In the matter of Scheme of Amalgamation between CONNECT MEDIA VENTURES PRIVATE LIMITED AND ELCOM CELLULAR SERVICES PRIVATE LIMITED AND INFOTECH MOBILINK PRIVATE LIMITED AND MATRIX WIRELESS SERVICES PRIVATE LIMITED AND MERIDIAN CELLULAR SERVICES PRIVATE LIMITED AND NUTECH WIRELESS NETWORKS PRIVATE LIMITED AND TELE ENGINEERING SERVICES PRIVATE LIMITED AND TELEBASE TECHNOLOGIES PRIVATE LIMITED AND TELEDATA WIRELESS SERVICES PRIVATE LIMITED AND UNISTAR TELECOM SERVICES PRIVATE LIMITED WITH NORTHERN WIRELESS SOLUTIONS PRIVATE LIMITED and their respective shareholders and creditors.

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UNISTAR TELECOM SERVICES ) PRIVATE LIMITED, a company incorporated under the Companies Act, ) 1956 having its registered office at Office No. 6, Shri Hanumanta Apt., ) SRA CHS Ltd, Bamanwada, M C Chagla Marg, Vile Parle (East), Mumbai ) … Applicant Company. - 400099.

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Called Summons for Direction

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Mr. Rajesh Shah with Mr. Chandrakant Mhadeshwar i/b M/s. Rajesh Shah & Co., for the Applicant

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Coram: N.M.Jamdar, J

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Date: 11^th October, 2013

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MINUTES OF THE ORDER

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UPON the application of the Applicant Company above-named by a Summons for Directions AND UPON HEARING M/s. Rajesh Shah instructed by Rajesh Shah & Co., Advocate for the Applicant Company, AND UPON READING the Affidavit dated 21^st day of August, 2013 of Mr. Manoj Sethi, Authorised Representative of the Applicant Company, in support of the Summons for Directions and the Exhibits referred therein to IT IS ORDERED:-

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That the convening and holding of 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 proposed scheme of Amalgamation between Connect Media Ventures Private Limited And Elcom Cellular Services Private Limited And Infotech Mobilink Private Limited And Matrix Wireless Services Private Limited And Meridian Cellular Services Private Limited And Nutech Wireless Networks Private Limited And Tele Engineering Services Private Limited And Telebase Technologies Private Limited And Unistar Telecom Services Private Limited And Teledata Wireless Services Private Limited With Northern Wireless Solutions Private Limited and their respective shareholders and creditors, is dispensed with in view of the consents given by all the two Equity Shareholders of the Applicant Company, which are annexed as Exhibit ‘C-1’ and ‘C2’ to the affidavit in support of the Summons for Direction.

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That the question of convening and holding the meeting of Secured Creditors does not arise since there are no Secured Creditors of the

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Applicant Company as stated in paragraph 62 of the Affidavit in support of Summons for Direction.

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That the convening and holding the meeting of the Unsecured Creditors of the Applicant Company for the purpose of considering and, if thought fit, approving, with or without modification(s) the proposed Scheme of Amalgamation between Connect Media Ventures Private Limited And Elcom Cellular Services Private Limited And Infotech Mobilink Private Limited And Matrix Wireless Services Private Limited And Meridian Cellular Services Private Limited And Nutech Wireless Networks Private Limited And Tele Engineering Services Private Limited And Telebase Technologies Private Limited And Unistar Telecom Services Private Limited And Teledata Wireless Services Private Limited With Northern Wireless Solutions Private Limited and their respective shareholders and creditors, is dispensed with in view of the averments made in paragraph 63 of the Affidavit in support of the Summons for Direction, interalia stating that the Unsecured creditors of the Applicant company are not in any manner effected by the scheme nor there is any compromise or arrangement envisaged in the Scheme with the Unsecured Creditors and that the Applicant undertakes to issue individual notice of date of hearing of Petition by Registered Post A. D. to its all Unsecured Creditors and also to publish the same in two local news papers viz. “Free Press Journal”, in English language and translation thereof in “Navshakti”,

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in Marathi language, both having circulation in Mumbai. The said

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undertaking is accepted.

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(N.M.Jamdar, J.)

Unistar Telecom Services Pvt.Ltd. v. --

Case brief

What is this about?

What did the court decide?

Unistar Telecom Services Pvt.Ltd. v. --

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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