Disposed

Vallee De Vin Private Limited Vs

Bombay HC1 Feb 2013CSD/91/2013

Case brief

AI extract

What is this about?

Single judge order dispensing with the convening of meetings of equity/preference shareholders, secured creditors, and unsecured creditors regarding a scheme of amalgamation. The court accepted undertakings to notify shareholders/shareholders' consent and issue individual notices to creditors via registered post with newspaper publication.

What did the court decide?

Direction to dispense with convening meetings of shareholders and creditors in the amalgamation scheme, based on shareholder consent and undertakings to notify creditors.

Vallee De Vin Private Limited 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 . 91 OF 2013

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IN THE MATTER OF COMPANIES ACT, 1956

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AND

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IN THE MATTER OF SECTION 391 & 394 OF THE COMPANIES ACT, 1956;

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AND

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IN THE MATTER OF SCHEME OF AMALGAMATION OF VALLEE DE VIN PRIVATE LIMITED WITH GROVER VINEYARDS LIMITED AND THEIR RESPECTIVE SHAREHOLDERS AND CREDITORS

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Vallee de Vin Private Limited, a company } Incorporated under the provisions of the } Companies Act, 1956 having its registered } office at Shri Arihant Complex, Building No., } I-2, Gala no. 3, Kopar Village, } Thane-Bhiwandi Road, } Bhiwandi, Dist. Thane - 421 302 } ……Applicant

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Called for Summons for Direction

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Mr. Nayan Rawal, Advocate for the Applicant

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Coram: N.M. JAMDAR. J

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Date:- 1^st February, 2013

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MINUTES OF ORDER

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UPON the application of the Applicant Company above named by a Summons for Directions AND UPON HEARING Mr. Nayan Rawal, Advocate of the Company, AND UPON READING the Affidavit dated 7^th November, 2012, of Mr. Nitesh Sanas, Authorised Signatory of the Applicant Company in Support of the Summons of Directions and exhibits referred therein, IT IS ORDERED:-

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That the convening and holding the meeting of equity shareholders and preference 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 of Grover Vineyards Limited and Vallee de Vin Private Limited and their respective shareholder and Creditors is dispensed in view of averments made in paragraph 18, that the consents given by all the Equity Shareholders and Preference Shareholders which are annexed as Exhibits G-1 to G-16 to the Affidavit in Support of Summons for Direction.

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That the convening and holding of the meeting of the Secured 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 of Grover Vineyards Limited and Vallee de Vin Private Limited and their respective Shareholders and Creditors is dispensed with in view of the averments made in paragraph 19 of the Affidavit in support of Summons for Direction, that the Applicant

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undertakes to give individual notice of date of hearing of petition by Registered Post A.D. to its all Secured Creditors and also to publish the same in two local news papers viz. “Free Press Journal”, in English language and translation thereof in “Maharashtra times in Marathi Language, both having circulation in Mumbai. The said undertaking is accepted.

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That the convening and holding of the meetings 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 of Grover Vineyards Limited and Vallee de Vin Private Limited and their respective Shareholders and Creditors, is dispensed with in view of the averments made in paragraph 20 of the Affidavit in support of Summons for Direction, that the Applicant undertakes to give 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 “Maharashtra times in Marathi Language, both having circulation in Mumbai. The said undertaking is accepted.

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( N.M. JAMDAR. J )

Vallee De Vin Private Limited Vs

Case brief

What is this about?

What did the court decide?

Vallee De Vin Private Limited Vs

Case brief

What is this about?

What did the court decide?

What the court decided

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