Disposed

Sudarshan Securities Private Limited v. 0

Bombay HC28 Nov 2014CSD/843/2014

Case brief

AI extract

What is this about?

The High Court dispensed with the need to convene meetings of equity shareholders and unsecured creditors of the applicant company to approve a scheme of amalgamation, ruling that such meetings are unnecessary due to existing consents provided by all relevant parties. Obvious OCR errors in the text were ignored.

What did the court decide?

Convening of meetings of equity shareholders and unsecured creditors to consider the proposed Scheme of Amalgamation is dispensed with.

Sudarshan Securities Private Limited Vs 0 — Company and Corporate | Bombay HC (2014)

¶1

THE HIGH COURT OF JUDICATURE AT BOMBAY

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ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY SUMMONS FOR DIRECTION NO. 843 OF 2014.

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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:

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Sanjog Estates Private Limited AND Sudarshan Securities Private Limited WITH Amrit Petroleums Private Limited AND their Respective Shareholders

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Sudarshan Securities Private Limited, a Company ) incorporated Under the Companies Act, 1956 ) and having its Registered Office at 601,Symphony, ) Nehru Road, Vile Parle, (East), Mumbai – 400 057 ).…Applicant Company

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Called Summons for Direction for hearing

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Mr. Rajesh Shah with Mr.Chandrakant Mhadeshwar i/b Rajesh Shah & Co, Advocates for the Applicant Company.

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CORAM: S. J. KATHAWALLA, J

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DATE: 28^TH NOVEMBER, 2014

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MINUTES OF ORDER

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UPON the application of the Applicant Company above named

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by a Summons for Direction AND UPON HEARING Mr. Rajesh

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Shah instructed by M/s. Rajesh Shah & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 5^th day of November, 2014 of Mr. Dipesh Doshi, 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 Sanjog Estates Private Limited and Sudarshan Securities Private Limited with Amrit Petroleums Private Limited and their respective shareholders, is dispensed with in view of the consents given by all the four Equity Shareholders of the Applicant Company which are annexed as Exhibits “C-1” to “C-4” to the Affidavit in Support of Company 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 of the Applicant Company as stated in paragraph 18 of the Affidavit in support of Summons for Direction.

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That the 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

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Page 2 of 3

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without modification(s) the proposed Scheme of Amalgamation of Sanjog Estates Private Limited and Sudarshan Securities Private Limited with Amrit Petroleums Private Limited and their respective shareholders, is dispensed with in view of the consent given by sole Unsecured Creditors of the Applicant Company, which are annexed as Exhibits “D” to the Affidavit in support of Summons for Direction.

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(S.J.KATHAWALLA, J)

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Page 3 of 3

Sudarshan Securities Private Limited v. 0

Case brief

What is this about?

What did the court decide?

Sudarshan Securities Private Limited v. 0

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

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