The Bombay High Court dispensed with the need to convene a meeting of equity shareholders to approve a proposed Scheme of Amalgamation involving Enam Insurance Broker Private Limited, as all equity shareholders had already provided consent.
Meeting of equity shareholders dispensible; no meeting of creditors required due to absence of creditors.
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. 153 OF 2014.
In the matter of the Companies Act I of 1956
AND
In the matter of Sections 391 to 394 of the Companies Act, 1956 AND In the matter of the Scheme of Amalgamation of:
Enam Insurance Broker Private Limited
AND Enam Resources Private Limited AND Reema Business Services Private Limited WITH Enam Insurance Distributors Private Limited AND their Respective Shareholders
Enam Insurance Broker Private Limited, ) a Company incorporated under the Companies ) Act, 1956 and having its Registered Office at ) 17/19 Khatau Bldg, 2nd Floor, 44 Bank Street, ) Off Shahid Bhagat Singh Road, Mumbai-400023 ).…APPLICANT
Called Summons for Direction
Mr. Hemant Sethi i/b Hemant Sethi & Co, Advocates for the Applicant Company.
CORAM: G.S.PATEL, J
th March, 2014
MINUTES OF ORDER
UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Hemant Sethi instructed by Hemant Sethi & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 13th day of January, 2014 of Mr. Vikas Mapara, Director of the Applicant Company, in support of Company Summons for Direction and the Exhibits referred to therein, IT IS ORDERED :-
Page 2 of 3
question of convening and holding meeting of Secured and
Unsecured Creditors does not arise.
(G. S. PATEL, J)
Page 3 of 3
1 issue framed by the court
Whether a shareholder meeting needs to be convened for a proposed Scheme of Amalgamation when all equity shareholders have consented.
1 provisions across 1 enactments
Enam Insurance Broker Private Limited
G.S. PATEL
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
