Add Pens Pvt. Ltd. v. -
Case brief
What is this about?
The Company Court dispensed with the convening of shareholder and creditor meetings for approving a scheme of amalgamation. This was accepted due to unanimous consents from equity and preference shareholders and undertakings from the applicant regarding creditor notifications.
What did the court decide?
The convening of meetings of Equity Shareholders, Preference Shareholders, Secured Creditors and Unsecured Creditors is dispensed with.
What the court decided
A compact analysis
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.
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 136 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
Issues for consideration
3 issues framed by the court
Whether the requirement of convening meetings of equity shareholders, preference shareholders, secured creditors, and unsecured creditors can be dispensed with.
The conditions under which the convening of a general meeting for approval of a scheme of amalgamation may be dispensed with.
Whether consents from all equity shareholders and secured creditors justify dispensing with the statutory meeting requirements.
Parties & counsel
- applicant
Add Pens Private Limited
Coram
K. R. Shriram
Case details
As recorded by the court registry
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