Wise Trading and Advisory Private Limited v. -
Case brief
What is this about?
On a company summons under Sections 391-394 of the Companies Act, 1956, the Bombay High Court observed that holding general and creditors' meetings was dispensed with due to unanimous consents filed by equity shareholders and creditors supporting the amalgamation scheme.
What did the court decide?
Minutes recorded on observations regarding dispensation with meetings due to consents.
What the court decided
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SUMMONS FOR DIRECTION NO. 99 OF 2014.
In the matter of the Companies Act, 1 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 Anitya Management Advisory Services Private Limited and Amber Advisory Services Private Limited with Wise Trading and Advisory Private Limited and their respective shareholders. Wise Trading and Advisory Private ) ) Limited, a Company incorporated ) under the Companies Act, 1956 ) ) and having its Registered Office at ) 582,Kamal Kunj, J.J. Road, ) ) Matunga, Mumbai–400019 ……Applicant Company.
Called Summons for Direction
Mr. Rajesh Shah with Mr. Chandrakant Mhadeshwar i/b M/s. Rajesh Shah & Co., Advocate for the Applicant
Coram: G.S. Patel, J. Date: 21st February, 2014
MINUTES OF THE ORDER
UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Rajesh Shah instructed by M/s. Rajesh Shah & Co., Advocate for the Applicant Company, AND UPON READING the Affidavit dated 20th January, 2014, of Mr. Nilesh Sheth Authorised Signatory of the Applicant
Issues for consideration
3 issues framed by the court
Whether the convening of meetings for equity, secured, and unsecured shareholders/creditors was required for the scheme of amalgamation.
Whether the proposed Scheme of Amalgamation required approval by shareholders and creditors.
Whether consents obtained by the applicant company dispensed with the need for meetings.
Parties & counsel
- applicant
Wise Trading and Advisory Private Limited
Coram
G.S. Patel
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court