The Bombay High Court dispensed with the need for a meeting of equity shareholders due to unanimous consent and exempted convening a creditors' meeting due to the absence of creditors, under Sections 391-394 of the Companies Act, 1956.
Meeting of equity shareholders dispensed with; meeting of creditors not required.
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.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SUMMONS FOR DIRECTION NO. 100 OF 2014.
In the matter of the Companies Act, 1 of 1956; AND
In the matter of Sections 391 to 394 of the Companies Act, 1956; AND
In the matter of Scheme of Amalgamation of VIJAYSHREE HOLDINGS PRIVATE LIMITED, and DHARMIK COMMODEAL PRIVATE LIMITED, and K. B. VYAPAR PRIVATE LIMITED, and MIRACLE COMPOSITES PRIVATE LIMITED, with TRITON TRADING COMPANY PRIVATE LIMITED, and respective shareholder and creditors.
VIJAYSHREE HOLDINGS PRIVATE ) LIMITED, a company incorporated ) under the Companies Act, 1956 having ) its registered office at Temple Terrace, 55, Forjett Street, Nana Chowk, Mumbai ) – 400036.
… Applicant Company.
Called for Summons for Direction
Mr. Rajesh Shah with Mr. Chandrakant Mhadeshwar i/b M/s. Rajesh Shah & Co., Advocate for the Applicant
Coram: G. S. Patel, J. Date: 21st February, 2014
MINUTES OF THE ORDER
UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Rajesh Shah instructed by M/s. Rajesh Shah & Co., Advocate for the Applicant Company, AND UPON READING the Affidavit dated 28th day of January, 2014 of Mr. Indra Kumar Pugalia, Director of the Applicant Company, in support of the Company Summons for Direction and the exhibit therein referred to, IT IS ORDERED:-
(G. S. Patel, J)
2 issues framed by the court
Whether the convening of a meeting of equity shareholders is required when all shareholders have given consent.
Whether the convening of a meeting of creditors is required when there are no secured or unsecured creditors.
1 provisions across 1 enactments
VIJAYSHREE HOLDINGS PRIVATE LIMITED
G. S. Patel
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
