The Court dispensed with the requirement to convene a meeting of equity shareholders and creditors for approving a scheme of amalgamation, relying on unanimous consents provided by all two equity shareholders and the absence of creditors.
Convening of meetings of equity shareholders and creditors for the Scheme of Amalgamation is dispensed with.
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. 101 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.
Dharmik Commodeal Private ) Limited, a Company ) incorporated under the ) Companies Act, 1956 having ) its Registered Office at Temple ) Terrace, 55, Forjett Street, ) Nana Chowk, Mumbai – ………… Applicant Company 400036.
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, Authorized Representative 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)
1 issue framed by the court
Whether the requirement to convene a meeting of equity shareholders and creditors can be dispensed with under Sections 391 to 394 of the Companies Act, 1956 upon obtaining unanimous consents.
2 provisions across 1 enactments
Dharmik Commodeal Private Limited
G. S. Patel
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
