The High Court allowed an application for recall of an impugned order sanctioning a scheme of arrangement under the Companies Act, 1956. The court heard arguments and noted no objection from the original director, granting the prayer accordingly.
The application was allowed and Judge's Summons was made absolute in terms of the prayer clause (a).
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.
908-CP426-2013.DOC
Vishal
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.426 OF 2013
IN
COMPANY SCHEME PETITION NO.252 OF 2013 CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO.235 OF 2013
WITH
COMPANY APPLICATION NO.427 OF 2013 IN
COMPANY SCHEME PETITION NO.251 OF 2013 CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO.234 OF 2013
Great Height Properties Private Limited
...Applicant/
Ori.Petitioner
Versus
In the matter of the Companies Act,1956(1 of
1956);
AND
In the matter of Sections 391 to 394 of the
Companies Act,1956
AND
In the matter of Scheme of Arrangement
BETWEEN
Faery Estate Private Limited (‘the Demerged
Company’)
WITH
Great Height Properties Private Limited (‘the
.Respondents
1 of 2
908-CP426-2013.DOC
Resulting Company’)
AND
their respective shareholders
Mr.Hemant Sethi, i/b.M/s.Hemant Sethi & Co. for the Applicants
Ms.Purnima Awasthi for the Respondent.
CORAM: G.S. PATEL, J DATED: MARCH 06, 2014
PC:-
1.This is an application for recall of the order dated 3rd May
2013 passed in Company Scheme Petition Nos.251/2013 and
252/2013 sanctioning the claim of arrangement.
2.Having heard the learned advocate Mr.Sethi for the applicant
and the learned advocate Ms.Awasthi on behalf of original Director
who states that there is no objection, and for the reasons set out in
paragraph 3 of the further affidavit dated 7th October 2013 affirmed
by one Mr.Sandeep Jaiswal, an authorized signatory of the
company, the application is allowed. Judge’s Summons is made
absolute in terms of prayer clause (a).
(G. S. PATEL, J.)
2 of 2
1 issue framed by the court
Whether the application for recall of the order sanctioning the scheme of arrangement is maintainable and should be allowed.
1 provisions across 1 enactments
Great Height Properties Private Limited
Faery Estate Private Limited
respecter shareholders
G.S. Patel
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court