Disposed

Besons Real Estate Pvt. Ltd. v. -

Bombay HC30 Jan 2015CSD/49/2015

Case brief

AI extract

What is this about?

Single judge order dispensing with the convening of a shareholders' or creditors' meeting for a proposed scheme of amalgamation under Sections 391-394 of the Companies Act, 1956, due to express consents given by equity shareholders and absence of secured or unsecured creditors.

What did the court decide?

Dispensed with the convening and holding of meetings for equity shareholders and creditors as their consents are already obtained and no creditors exist.

Besons Real Estate Pvt. Ltd. Vs - — Company and Corporate | Bombay HC (2015)

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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. 49 OF 2015

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In the matter of the Companies Act, 1 of 1956 and other relevant provision of Companies Act, 2013;

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AND

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In the matter of Sections 391 to 394 of the Companies Act, 1956 and other relevant provision of Companies Act, 2013;

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AND

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In the matter of Scheme of Amalgamation of BESONS REAL ESTATE PRIVATE LIMITED, the First Transferor Company and BLUEVISUAL MULTITRADING PRIVATE LIMITED, the Second Transferor Company and REDWIRE DEVELOPERS PRIVATE LIMITED, the Third Transferor Company and MANISH MANAGEMENT CONSULTANCY PRIVATE LIMITED, the Fourth Transferor Company and SANTOSH EXIM PRIVATE LIMITED, the Fifth Transferor Company and VINAY MULTITRADE PRIVATE LIMITED, the Sixth Transferor Company and JAINESH TRADING COMPANY PRIVATE LIMITED, the Seventh Transferor Company and ANVANCETECH COMPUTERS PRIVATE LIMITED, the Eighth Transferor Company and, SUBHRA TRADING PRIVATE LIMITED the Ninth Transferor Company and, INTERPACK DEVELOPERS PRIVATE LIMITED the Tenth Transferor Company and, STANDARD CHROMATES PVT LTD the Eleventh Transferor Company with ISS INTERNATIONAL LIMITED, the Transferee Company.

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Page 1 of 3

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BESONS REAL ESTATE PRIVATE ) LIMITED, a company incorporated ) under the Companies Act, 1956 ) having its registered office at A/105, ) Om Vrindavan Co-Op. Hsg Soc., ) Vardhaman Nagar, Building No.7, ) Tulinj Road, Nallasopara (E), Thane) 401203. ) …Applicant Company.

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Called Summons for Direction

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Mr. Rajesh Shah i/b M/s. Rajesh Shah & Co., Advocate for the Applicant

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Coram: S.J. Kathawalla, J.

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Date: 30^th January, 2015

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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. Rajesh Shah instructed by M/s. Rajesh Shah & Co., Advocate for the Applicant Company, AND UPON READING the Affidavit dated 18^th December, 2014 Mr. Deepak Rane, Authorised Signatory 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 Besons Real Estate Private Limited, the First Transferor Company and Bluevisual Multitrading Private Limited, The Second Transferor Company And Redwire Developers Private Limited, The Third Transferor Company And Manish

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Page 2 of 3

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Management Consultancy Private Limited, The Fourth Transferor Company And Santosh Exim Private Limited, The Fifth Transferor Company And Vinay Multitrade Private Limited, The Sixth Transferor Company And Jainesh Trading Company Private Limited, The Seventh Transferor Company And Anvancetech Computers Private Limited, The Eighth Transferor Company And, Subhra Trading Private Limited The Ninth Transferor Company And, Interpack Developers Private Limited The Tenth Transferor Company And, Standard Chromates Pvt Ltd The Eleventh Transferor Company With Iss International Limited, the Transferee Company. is dispensed with in view of the consents given by both the Equity Shareholders of the Applicant Company, which are annexed as Exhibit ‘C-1’ and ‘C-2’ to the Affidavit in support of Summons for Direction.

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That there are no Secured Creditors and Unsecured Creditors of the Applicant Company as stated in paragraph 67 of the Affidavit in support of Summons for Direction. Hence, the question of convening and holding of the meeting of Secured Creditors and Unsecured Creditors does not arise.

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(S. J.Kathawalla, J.)

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Page 3 of 3

Besons Real Estate Pvt. Ltd. v. -

Case brief

What is this about?

What did the court decide?

Besons Real Estate Pvt. Ltd. v. -

Case brief

What is this about?

What did the court decide?

What the court decided

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