Allowed

Kamdhenu Pickles and Spices Inudstries Private Limited v. 0

Bombay HC3 Jul 2015CSD/495/2015

Case brief

AI extract

What is this about?

The High Court dispensed with the requirement to convene meetings for Equity Shareholders and all categories of creditors to approve a Scheme of Amalgamation, accepting the company's undertaking to notify creditors.

What did the court decide?

Convening of meetings for Equity Shareholders, Secured Creditors, Unsecured Loan Creditors, and Unsecured Creditors is dispensed with; undertaking to notify creditors accepted.

Kamdhenu Pickles and Spices Inudstries Private Limited… — Company and Corporate | Bombay HC (2015)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 495 OF 2015

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In the matter of Companies Act, 1956 (1 of 1956);

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AND

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

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AND

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In the matter of Scheme of Amalgamation of Nandalal Fruit Processors Private Limited

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WITH

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Kamdhenu Pickles and Spices Industries Private Limited

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AND

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Their respective shareholders

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Kamdhenu Pickles and Spices Industries Pvt. Ltd. ) a company incorporated under ) the Companies Act, 1956 ) having its registered at ) 1379 Bhayani Pethkrishi, ) Bhayan, Pune 411042 ) … Applicant Company

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Called for Summons for Directions for hearing

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Mr. Abhimanyu Kharote, i/b. Ms. Prachi Manekar & Mr. Shalabh Krishnan,

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Advocates for the Applicant

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Coram: S. C. Gupte J.

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Date: 03^rd July, 2015

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MINUTES OF THE ORDER

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UPON the Application of the Applicant Company above named by a Company Summons for Directions AND UPON HEARING Mr. Abhimanyu Kharote instructed by Ms. Prachi Manekar & Mr. Shalabh Krishnan, Advocates for the Applicant Company AND UPON READING the Affidavit dated 5^th January, 2015 of Mr. Dhananjay Navlakha, Director of the Applicant Company, in support of Company Summons for Directions and the Exhibits therein referred to, IT IS ORDERED THAT:

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The convening and holding of 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 Nandalal Fruit Processors Private Limited with Kamdhenu Pickles and Spices Industries Private Limited and their respective Shareholders, is dispensed with in view of the consent given by all the 24 Equity Shareholders of the Applicant Company, which are annexed as Exhibits I-1 to I-24 to the Affidavit in support of Company Summons for Direction.

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The convening and holding the meeting of the Secured Creditors 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 Nandalal Fruit Processors Private Limited with Kamdhenu Pickles and Spices Industries Private Limited and their respective Shareholders, is dispensed with in view of the averment made in Paragraph 20 of the Affidavit in support of the Company Summons for Directions inter alia stating that there is no arrangement and/or compromise with the Secured Creditors and their rights will not be affected by the proposed Scheme of Amalgamation and the Applicant Company undertakes to issue individual notice of the date of hearing of the Company Scheme Petition by R.P.A.D to all

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its Secured Creditors and also publish the same in two local daily newspapers viz ‘Economic Times’ in English language and translation thereof in ‘Maharashtra Times’ in Marathi language, both having circulation in Pune. The said undertaking is accepted.

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The convening and holding the meeting of the Unsecured Loan Creditors 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 Nandalal Fruit Processors Private Limited with Kamdhenu Pickles and Spices Industries Private Limited and their respective Shareholders, is dispensed with in view of the averment made in Paragraph 21 of the Affidavit in support of the Company Summons for Directions inter alia stating that there is no arrangement and/or compromise with the Unsecured Loan Creditors and their rights will not be affected by the proposed Scheme of Amalgamation and the Applicant Company undertakes to issue individual notice of the date of hearing of the Company Scheme Petition by R.P.A.D to all its Unsecured Loan Creditors and also publish the same in two local daily newspapers viz ‘Economic Times’ in English language and translation thereof in ‘Maharashtra Times’ in Marathi language, both having circulation in Pune. The said undertaking is accepted.

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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 without modification(s), the proposed Scheme of Amalgamation of Nandalal Fruit Processors Private Limited with Kamdhenu Pickles and Spices Industries Private Limited and their respective Shareholders, is dispensed with in view of the averment made in Paragraph 22 of the Affidavit in support of the Company Summons for Directions inter alia stating that there is no arrangement and/or compromise with the Unsecured Creditors and

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their rights will not be affected by the proposed Scheme of Amalgamation and the Applicant Company undertakes to issue individual notice of the date of hearing of the Company Scheme Petition by R.P.A.D to all its Unsecured Creditors and also publish the same in two local daily newspapers viz ‘Economic Times’ in English language and translation thereof in ‘Maharashtra Times’ in Marathi language, both having circulation in Pune. The said undertaking is accepted.

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(S. C. Gupte, J.)

Kamdhenu Pickles and Spices Inudstries Private Limited v. 0

Case brief

What is this about?

What did the court decide?

Kamdhenu Pickles and Spices Inudstries Private Limited v. 0

Case brief

What is this about?

What did the court decide?

What the court decided

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