Allowed

Subhkam Stocks and Shares Private Limited v. -

Bombay HC12 Sept 2014CSD/682/2014

Case brief

AI extract

What is this about?

The Bombay High Court dispensed with the need to convene meetings of equity shareholders, secured creditors, and unsecured creditors of Subhkam Stocks and Shares Private Limited to approve a scheme of amalgamation, as all requisite consents were already provided.

What did the court decide?

Dispensance with convening and holding meetings of equity shareholders, secured creditors, and unsecured creditors for approving the scheme of amalgamation.

Subhkam Stocks and Shares Private Limited Vs - — Company and Corporate | Bombay HC (2014)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

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ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY SUMMONS FOR DIRECTION NO 682 OF 2014

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In the matter of Companies Act, 1956;

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AND

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In the matter of the Sections 391 to 394 of the Companies Act, 1956;

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AND

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In matter of Subhkam Stocks and Shares Private Limited [CIN:

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U67120MH1996PTC097550] Company incorporated under the Companies Act 1956 having its registered office at the International House, 4^th Floor, New Marine Lines, Cross Road No. 1, 16, Maharshi Karve Road, Churchgate, Mumbai-400020

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AND

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In matter of Scheme of Amalgamation between Sedum Investments

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& Finance Private Limited and Subhkam Stocks and Shares Private Limited and Subhkam Securities Private Limited and Vilars Estates Private Limited and Khazana Tradelinks Private Limited Their Respective Shareholders And Creditors

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SUBHKAM STOCKS AND SHARES PRIVATE LIMITED )

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[CIN: U67120MH1996PTC097550] a Company )

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Incorporated under the Companies Act 1956 ) Having its registered office at The International House, ) 4th Floor, New Marine Lines, Cross Road No. 1, 16, ) Maharshi Karve Road, Churchgate, Mumbai-400020 )APPLICANT COMPANY

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Called for Direction

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Mr. K. H. Halai a/w Ajit Shinde i/b Halai & Co, Advocate for the Applicant

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Coram: S.J. KATHAWALLA, J Date: 12^th September 2014

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MINUTES OF THE ORDER

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UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. K. H. Halai instructed by Halai & Co., Advocate for the Applicant Company, AND UPON READING the Affidavit dated 18^th March, 2014 of Mr. Ravi Kumar S., Director/Chairman and Authorised person, of the Applicant Company, in support of the Summons for Direction and the Exhibit therein referred to, IT IS ORDERED:-

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That the 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, the

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Sedum Investments & Finance Private Limited And Subhkam Stocks And Shares Private Limited And Subhkam Securities Private Limited And Vilars Estates Private Limited With Khazana Tradelinks Private Limited and their respective shareholders, is dispensed with in view of consents given by all the three Equity Shareholders of the Applicant Company, which are annexed as Exhibits ‟D to D-

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2”to the Affidavit in support of the Summons for Direction.

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That the question of convening and holding the meeting of Secured Creditors does not arise since there are no Secured Creditors in the Applicant Company as stated in paragraph 21 of the Affidavit in support of Summons for Direction.

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That the question of convening and holding the meeting of Unsecured Creditors does not arise since there are no Unsecured Creditors in the Applicant Company as stated in paragraph 22 of the Affidavit in support of Summons for Direction.

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(S.J KATHAWALLA, J)

Subhkam Stocks and Shares Private Limited v. -

Case brief

What is this about?

What did the court decide?

Subhkam Stocks and Shares 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

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Case details

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