Disposed

Devgiri Forgings Pvt. Ltd. v. -

Bombay HC4 Sept 2015CSD/746/2015

Case brief

AI extract

What is this about?

High Court dispensed with the need to convene meetings for equity shareholders and creditors to approve a scheme of amalgamation, accepting undertakings regarding notice issuance and newspaper publication instead.

What did the court decide?

Meeting of Equity Shareholders, Secured Creditors, and Unsecured Creditors for approving the amalgamation scheme was dispensed with; undertaking on notice acceptance.

Devgiri Forgings Pvt. Ltd. Vs - — Company and Corporate | Bombay HC (2015)

¶1

¶2

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

¶3

ORDINARY ORIGINAL CIVIL JURISDICTION

¶4

COMPANY SUMMONS FOR DIRECTION NO. 746 OF 2015

¶5

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

¶6

AND

¶7

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

¶8

AND

¶9

In the matter of Scheme of Amalgamation of DEVGIRI AUTOMOTIVES PRIVATE LIMITED, the Transferor Company with DEVGIRI FORGINGS PRIVATE LIMITED,

¶10

the Transferee Company

¶11

DEVGIRI FORGINGS PRIVATE )

¶12

LIMITED, a company incorporated ) under the Companies Act, 1956 ) having its registered office at Gat No. ) 64, Narayanpur (BK), 14^th Km Stone, ) Pune Road, Tq. Gangapur, Dist. ) Aurangabad – 431 133. …Applicant Company

¶13

Page 1 of 4

¶14

¶15

Called Summons for Direction for hearing

¶16

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

¶17

Coram: S. C. Gupte, J.

¶18

Date: 4^th September, 2015

¶19

MINUTES OF THE ORDER

¶20

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 14^th day of August, 2015 Mr. Raghuram Someshwar, Director of the Applicant Company, in support of the Summons for Direction and the Exhibit therein referred to, IT IS ORDERED THAT :-

¶21

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 DEVGIRI AUTOMOTIVES PRIVATE LIMITED, the Transferor Company with DEVGIRI FORGINGS PRIVATE LIMITED, the Transferee Company is dispensed with in view of the consent given by all the four Equity Shareholders of the Applicant Company, which are annexed as Exhibit ‘G-1’ to ‘G-4’ to the Affidavit in support of Summons for Direction.

¶22

The convening and holding of the meeting of the Secured Creditors of the Applicant Company for the purpose of

¶23

Page 2 of 4

¶24

¶25

considering and, if thought fit, approving, with or without modification(s) the proposed Scheme of Amalgamation of DEVGIRI AUTOMOTIVES PRIVATE LIMITED, the Transferor Company with DEVGIRI FORGINGS PRIVATE LIMITED, the Transferee Company is dispensed with in view of the averments made in paragraph 17 of the Affidavit in support of the Summons for Direction and that the Applicant undertakes to issue individual notice of date of hearing of the Company Scheme Petition by Registered Post A. D. to its Sole Secured Creditor and also to publish the same in two local news papers viz. “Lokmat Times”, in English language and translation thereof in “Dainik Lokmat”, in Marathi language, both having circulation in Aurangabad. The said undertaking is accepted.

¶26

The convening and holding of 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 DEVGIRI AUTOMOTIVES PRIVATE LIMITED, the Transferor Company with DEVGIRI FORGINGS PRIVATE LIMITED, the Transferee Company is dispensed with in view of the averments made in paragraph 18 of the Affidavit in support of the Summons for Direction and that the Applicant undertakes to issue individual notice of date of hearing of the

¶27

Page 3 of 4

¶28

¶29

Company Scheme Petition by Registered Post A. D. to all its Unsecured Creditors and also to publish the same in two local news papers viz. “Lokmat Times”, in English language and translation thereof in “Dainik Lokmat”, in Marathi language, both having circulation in Aurangabad. The said undertaking is accepted.

¶30

Page 4 of 4

Devgiri Forgings Pvt. Ltd. v. -

Case brief

What is this about?

What did the court decide?

Devgiri Forgings Pvt. Ltd. v. -

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

Similar cases

Kiran Nathmal Ramani Vs M/S. Praveen Jewellers Pvt. Ltd. and 9 Ors.

M/S. Sandeep Steels Vs Maharashtra Power Transmission Structures Pvt. Ltd. Cin No. U2710MH2002PTC136850

Kishor Doshi Vs Indo-Europa Trading Company Pvt. Ltd.

Igate Information Services Pvt. Ltd. Vs -

Rushabh Gems Private Limited Vs 0

Ambit Holdings Private Limited Vs 0