Single judge order dispensing with meetings of shareholders and creditors for a scheme of amalgamation under Sections 391-394 Companies Act, 1956, based on consent of all stakeholders.
Meeting of shareholders, secured creditors and unsecured creditors dispensed with; notices to be published in newspapers.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 109 OF 2016
In the matter of the Companies Act, 1956;
And
In the matter of Sections 391 to 394 of the Companies Act, 1956;
And
In the matter of Sharus Steel Products Private Limited, a Company incorporated under the Companies Act, 1956 and having its Registered Office at 70, Medows Street, Nagindas Master Road, Mumbai 400 023
And
In the matter of Scheme of Amalgamation of Sharus Building Services India Private Limited with Sharus Steel Products Private Limited
Sharus Steel Products Private Limited ) 70, Medows Street, Nagindas Master Road ) Mumbai 400 023 )…Applicant Company
Called Summons for Direction for Hearing
Ms. Chandni Tanna i/b. India Law Alliance, Advocates for the Applicant Company
Coram: B. P. Colabawalla, J.
Date: 16th April, 2016
MINUTES OF THE ORDER
UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Ms. Chandni Tanna i/b. India Law Alliance, Advocates for the Applicant Company, AND UPON READING the Affidavit dated 31st October, 2015, of Mr. J. N. Mittal, Director of the Applicant Company, in support of the Summons for Direction and the Exhibit therein referred to, IT IS ORDERED THAT:
as Exhibits I-1 and I-2 to the Affidavit in support of the Summons for Direction.
record and annexed as “Annexure- B to Annexure B-8” to the Additional Affidavit In Support of the Summons for Direction. Therefore, in light of this, 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 Sharus Building Services India Private Limited with Sharus Steel Products Private Limited, the Transferee Company, is dispensed with and that the Applicant undertakes to issue individual notice of date of hearing of the Company Scheme Petition by the Registered Post Acknowledgement Due (RPAD) to all its Unsecured Creditors and also to publish the same in two local news papers viz. “Free Press Journal”, in English language and translation thereof in “Navshakti”, in Marathi language, both having circulation in Mumbai. The said undertaking is accepted.
(B. P. Colabawalla, J)
CERTIFICATE
I certify that this Order uploaded is a true and correct copy of original singed order
Uploaded by : Mr. Shankar Gawde
1 issue framed by the court
Whether the convening of meetings of equity shareholders, secured creditors and unsecured creditors is dispensed with due to their consents.
1 provisions across 1 enactments
Sharus Steel Products Private Limited
B. P. Colabawalla
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
