Allowed

Forbes Enviro Solutions Ltd. v. -----

Bombay HC24 Jan 2014CSD/1/2014

Case brief

AI extract

What is this about?

The Bombay High Court, in a summons for directions under Sections 391 to 394 of the Companies Act, 1956 for an amalgamation scheme, dispensed with the requirement to convene meetings of equity shareholders and secured/unsecured creditors. This was ordered because all seven equity shareholders gave consent and the company had no creditors.

What did the court decide?

Convening of meetings of equity shareholders and creditors is dispensed with as all shareholders consented and there are no creditors.

Forbes Enviro Solutions Ltd. Vs ----- — Company and Corporate | Bombay HC (2014)

¶1

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

¶2

ORDINAY ORIGINAL CIVIL JURISDICTION

¶3

COMPANY SUMMONS FOR DIRECTION NO. 1 OF 2014

¶4

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 Amalgamation OF Radiant Energy Systems Private Limited; AND Waterwings Equipments Private Limited WITH Forbes Enviro Solutions Limited AND their respective Shareholders. Forbes Enviro Solutions Limited ) a company incorporated under the provisions of the ) Companies Act, 1956 having its registered office at ) Bhupesh Gupta Bhavan, 85, Sayani Road, ) Prabhadevi, Dadar (west), Mumbai 400 025 ) …Applicant/ Transferee Company

¶5

CALLED FOR SUMMONS FOR DIRECTIONS

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Mr. Naushad Engineer a/w Mr. Dhiraj Mhetre a/w Mr. Devvrat Periwal i/b M/s. Desai & Diwanji, Advocates for Applicant

¶7

Coram: G. S. Patel, J.

¶8

Dated: 24^th January, 2014

¶9

MINUTES OF THE ORDER

¶10

Upon the Application of the Applicant abovenamed by a Summons for Direction AND UPON hearing Mr. Naushad Engineer i/b M/s. Desai & Diwanji, Advocates for Applicant AND UPON reading the Affidavit dated 28^th January 2013 and the Further Affidavit dated 17^th December 2013 of Mr. Dattaram P. Shinde, authorized signatory of the Applicant in support of Summons for Directions and the Exhibits therein referred to, IT IS ORDERED :-

¶11

That convening and holding a meeting of the Equity Shareholders of the Applicant abovenamed, for the purpose of considering, and if thought fit, approving with, or without modification(s), the Scheme of Amalgamation of Radiant Energy Systems Private Limited and Waterwings Equipments Private Limited with Forbes Enviro Solutions Limited and their respective Shareholders, is dispensed with in view of the consents given by all seven Equity Shareholders of the Applicant Company, which are annexed as Exhibits J-1 to J-7 to the Affidavit in support of Summons for Directions.

¶12

There are no Secured and Unsecured Creditors of the Applicant Company as mentioned in paragraph 30 of the Affidavit in support of the Summons for Directions and also as per the latest financial position of the Applicant Company i.e unaudited provisional balance sheet dated 30^th September 2013 which is mentioned in paragraph 3 of the Further Affidavit in support of the

¶13

Summons for Directions. Hence, the question of convening and holding a

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meeting of Secured and Unsecured Creditors does not arise.

¶15

(G. S. Patel, J)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. COMPANY SUMMONS FOR DIRECTION NO. 1 OF 2014

¶17

In the matter of
Section 391 to 394
of the Companies
Act, 1956; And
In the matter of
Forbes Enviro
Solution Limited And
In the matter of
Scheme of Amalgamation of
Waterwings
Equipments Private
Limited and
Radiant Energy
Systems Private
Limited with
Forbes Enviro
Solutions Limited
and their respective shareholders.

¶18

Forbes Enviro Solutions Limited ... Applicant

¶19

MINUTES OF ORDER

¶20

Dated this day of , 2014

¶21

Desai & Diwanji Advocates for the Applicant Lentin Chambers, 2^nd Floor, Dalal Street, Fort, Mumbai 400 001

Forbes Enviro Solutions Ltd. v. -----

Case brief

What is this about?

What did the court decide?

Forbes Enviro Solutions Ltd. v. -----

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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