High Court of Bombay ordered that the convening of meetings for equity, preference, and unsecured shareholders/creditors is dispensed with for ASMPL's amalgamation with APPL due to existing consents and asset-liability undertakings.
Meeting for equity, preference, and unsecured creditors/creditors to approve the scheme is dispensed with.
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.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 135 OF 2016
In the matter of the Companies Act, 1956 (1 of 1956) (or re-enactment thereof upon effectiveness of Companies Act, 2013);
AND
In the matter of Sections 391 to 394 of the Companies Act, 1956 (or any corresponding provision of Companies act, 2013 as may be notified);
AND
In the matter of Scheme of Amalgamation of Add Sales and Marketing Private Limited ("ASMPL” or “Transferor Company ")
WITH
Add Pens Private Limited ("APPL" or “Transferee Company”)
AND
their respective shareholders and creditors
ADD SALES AND MARKETING ) PRIVATE LIMITED, a company ) incorporated under the Companies Act, ) 1956 having its Registered Office at 6th ) Floor, Business Park, Chincholi Naka, ) S.V. Road, Malad (West) Mumbai, ) Maharashtra, 400 064, India ) …Applicant Company.
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Called Summons for Direction for Hearing
Ms. Shruti Kelji a/w. Ms. Sunila Chavan and Mr. A. S. Lambhate, Advocates for the Applicant
Coram: K. R. Shriram, J.
Date :26th February, 2016
MINUTES OF THE ORDER
UPON the application of the Applicant Company above named by a Company Summons for Direction AND UPON HEARING Ms. Shruti Kelji, Advocate for the Applicant Company, AND UPON READING the Affidavit dated 28th December, 2015 of Mr. Vijay Bohra, Authorized Signatory of the Applicant Company, in support of the Summons for Direction and the Exhibits therein referred to, IT IS ORDERED THAT:-
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Post A. D. 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.
C E R T I F I C A T E
I certify that this Order uploaded is a true and correct copy of the original signed Order.
Uploaded by: Shankar Gawade, Stenographer
1 issue framed by the court
Whether the requirement of convening a meeting of shareholders and creditors for scheme of amalgamation can be dispensed with upon obtaining necessary consents.
2 provisions across 1 enactments
Add Sales and Marketing Private Limited
K. R. Shriram
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
