Disposed

Ankit Real Estate Private Limited v. -

Bombay HC24 Jan 2013CSD/81/2013

Case brief

AI extract

What is this about?

The Bombay High Court, in an application under Sections 391-394 of the Companies Act, 1956 for a scheme of amalgamation, discharged the statutory requirements of convening meetings for shareholders and creditors. The court dispensed with these meetings because the applicant had annexed consents from all equity shareholders, secured creditors (none existing), unsecured loan creditors, and unsecured

What did the court decide?

The meetings of Equity Shareholders, Secured Creditors, Unsecured Loan Creditor, and Unsecured Sundry Creditors are dispensed with.

Ankit Real Estate Private Limited Vs - — Specific Performance | Bombay HC (2013)

¶1

¶2

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

¶3

ORDINARY ORIGINAL CIVIL JURISDICTION

¶4

COMPANY SUMMONS FOR DIRECTION NO. 81 OF 2013

¶5

SCHEME OF AMALGAMATION UNDER SECTIONS 391 TO 394 OF THE COMPANIES ACT,1956

¶6

FOR

¶7

AMALGAMATION OF ANKIT REAL ESTATE PRIVATE LIMITED (ANKIT) &

¶8

KRISHNA LAND DEVELPOERS PRIVATE LIMITED (KLDPL) & EKTA MULTITRADE PRIVATE LIMITED (EKTA) & HUB REAL ESTATE PRIVATE LIMITED (HUB) AND KRISHNA DEVELOPERS PRIVATE LIMITED (KDPL)

¶9

ANKIT REAL ESTATE PRIVATE LIMITED (ANKIT), a company incorporated under the Act and having its registered office: 78, 2^nd floor, Khetan Bhavan, J.B.Nagar, Andheri (West), Mumbai-400 059…...………………... ……… Applicant

¶10

Called Summons for Direction:

¶11

Shri.Kedar Wagle, Advocate for Applicant.

¶12

Coram: N.M.JAMDAR. J Date: 24^th January, 2013

¶13

MINUTES OF ORDER

¶14

Upon the application of the Applicant Company above named by a Summons for Direction and UPON HEARING Shri.Kedar Wagle, Advocate for the Applicant Company and upon reading the Affidavit dated 18^th December 2012 of

¶15

¶16

Ms.Amita Mhatre, Authorised Signatory of the Applicant Company in support of Summons for Direction and the Exhibits therein referred to, IT IS

¶17

ORDERED :-

¶18

1. THAT the convening and holding the meeting of the Equity Shareholders of the Applicant/Transferor Company for the purpose of considering and if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation, of ANKIT REAL ESTATE PRIVATE LIMITED, the Transferor Company into KRISHNA DEVELOPERS PRIVATE LIMITED, the Transferee Company is dispensed with in view of the consents given by all the Equity Shareholders of the Applicant Company which are annexed as Exhibit “D” to “D-6 ” to the Affidavit in support of Summons for Direction.

¶19

1. THAT there are no Secured Creditors of the Applicant Company as stated in paragraph 11 of the Affidavit in support of Summons for Direction. Hence, the question of convening and holding the meeting of Secured Creditors does not arise.

¶20

1. THAT the convening and holding the meeting of the Unsecured Loan Creditor of the Applicant Company, for the purpose of considering and if thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation, of ANKIT REAL ESTATE PRIVATE LIMITED, the Transferor Company into KRISHNA DEVELOPERS PRIVATE LIMITED, the Transferee Company is dispensed with in view of the consent given by its sole Unsecured Loan Creditor that is annexed as Exhibits-“F” to the Affidavit in support of Summons for Direction.

¶21

1. THAT the convening and holding the meeting of the Unsecured Sundry Creditors of the Applicant Company, for the purpose of considering and if

¶22

¶23

thought fit, approving, with or without modification(s), the proposed Scheme of Amalgamation, of ANKIT REAL ESTATE PRIVATE LIMITED, the Transferor Company into KRISHNA DEVELOPERS PRIVATE LIMITED, the Transferee Company is dispensed with in view of the consent given by its Unsecured Sundry Creditor that is annexed as Exhibit-“H” to the Affidavit in support of Summons for Direction.

¶24

(N.M.JAMDAR. J)

Ankit Real Estate Private Limited v. -

Case brief

What is this about?

What did the court decide?

Ankit Real Estate Private Limited 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

Similar cases

M/S. Kolkata Radiant Properties Private Limited Vs Petron Engineering Construction Limited - L45202MH1976PLC019135

Kotak Mahindra Bank Limited Vs M/S. Bombay Gypsum Private Limited - U25206MH1996PTC098315

M/S Shaikh Construction Vs Hamoobai Haji Ali Mohd. H. Cassum Agbotwala and State Bank of India

Shingar Cosmetics Private Limited Vs ------------

Shingar Limited Vs ---------

Ekta Multitrade Private Limited (Ekta) Vs