Disposed

Reema Business Services Private Limited v. -

Bombay HC14 Mar 2014CSD/155/2014

Case brief

AI extract

What is this about?

The court directed the applicant company that a meeting of equity shareholders and unsecured creditors need not be convened for the proposed scheme of amalgamation, as consents were already obtained from all shareholders and the sole unsecured creditor.

What did the court decide?

Direction dispensing with the need to convene and hold meetings of equity shareholders and unsecured creditors for approving the amalgamation scheme due to existing consents.

Reema Business Services Private Limited Vs - — Company and Corporate | Bombay HC (2014)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY SUMMONS FOR DIRECTION NO. 155 OF 2014.

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In the matter of the Companies Act I of 1956

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AND In the matter of Sections 391 to 394 of the Companies Act, 1956 AND In the matter of the Scheme of Amalgamation of:

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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

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Reema Business Services Private Limited, ) a Company incorporated under the Companies ) Act, 1956 and having its Registered Office at, ) 44 Khatau Bldgs, B.S.Road Mumbai-400 023 )…APPLICANT

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Called Summons for Direction

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Mr. Hemant Sethi i/b Hemant Sethi & Co, Advocates for the Applicant Company.

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CORAM: G.S.PATEL, J

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DATE: 14^th March, 2014

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MINUTES OF ORDER

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Page 1 of 3

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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 13^th 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 :-

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That convening and holding the meeting of the Equity 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 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 , is dispensed with in view of the consents given by all the Equity Shareholders

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of the Applicant Company which are annexed as Exhibits “C-1” to “C-5” to the Affidavit in Support of Company Summons for Direction.

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That there are no Secured Creditors of the Applicant Company as stated in paragraph 19 of the Affidavit in Support of Company Summons for Direction. Hence, the

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Page 2 of 3

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question of convening and holding meeting of Secured Creditors does not arise.

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That convening and holding the meeting 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 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 , is dispensed with in view of the consents given by sole Unsecured Creditor of the Applicant Company which is annexed as Exhibit “D” to the Affidavit in Support of Company Summons for Direction.

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(G. S. PATEL, J)

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Page 3 of 3

Reema Business Services Private Limited v. -

Case brief

What is this about?

What did the court decide?

Reema Business Services Private Limited v. -

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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