Disposed

Motimala Trading Private Limited v. 0

Bombay HC1 Apr 2016CSD/212/2016

Case brief

AI extract

What is this about?

The Bombay High Court dispensed with the statutory requirement to convene meetings of equity shareholders, secured creditors, and unsecured creditors for a scheme of amalgamation. This was permitted because all shareholders had consented and no secured or unsecured creditors existed.

What did the court decide?

Meeting of equity shareholders was dispensed with due to unanimous consent; meetings of secured and unsecured creditors did not arise as none existed.

Motimala Trading Private Limited Vs 0 — Company and Corporate | Bombay HC (2016)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO.212 OF 2016

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In the matter of Companies Act, 1956 or any re- enactment thereof;

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AND

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In the matter of Application under Sections 391 to 394 of the Companies Act, 1956 or any re-enactment thereof;

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AND

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In the matter of Scheme of Amalgamation of Motimala Jewellers Private Limitedwith Motimala Trading Private Limited& their respective shareholders and creditors under Sections 391 to 394 of the Companies Act, 1956 or any re-enactment thereof.

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Motimala Trading Private Limited ) a company incorporated under the ) Companies Act, 1956 and having ) its registered office at PLOT NO ) 130 APMCSECTOR N 12, VASHI ) MUMBAI ) ....Applicant Company

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CALLED SUMMONS FOR DIRECTION FOR HEARING

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Ms. Labdhi Shah, Advocate for the Applicant Company

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Coram: B. P. Colabawalla, J.

Dated: 01.04.2016

MINUTES OF ORDER

UPON the Application of the Applicant Company above named by the Company Summons for Direction and upon hearing Ms. Labdhi Shah, Advocate instructed by the Applicant Company AND UPON READING the Affidavit dated 8^th January, 2016 of Mr.Ladhulal Jain, Director of the Applicant Company, in support of the Company Summons for Direction and the Exhibits referred therein, IT IS ORDERED THAT :

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1. The convening and holding the meeting of 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 Motimala Jewellers Private Limited with Motimala Trading Private Limited and their respective shareholders and creditors, is dispensed with, in view of the consent given by all the EightEquity Shareholders of the Applicant Company,which are annexed and marked as Exhibits “K-1” to “K-8” to the Affidavit in Support of the Company Summons for Direction.

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1. There are no Secured Creditors of the Applicant Company as stated in paragraph 22 of the Affidavit in support of the Company Summons for Direction. Hence, the question of convening and holding the meeting of Secured Creditors of the Applicant Company does not arise.

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1. There are no Unsecured Creditors of the Applicant Company as stated in paragraph 23 of the Affidavit in support of the Company Summons for Direction.

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Hence, the question of convening and holding the meeting of Unsecured Creditors of the Applicant Company does not arise.

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(B. P. Colabawalla, J.)

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CERTIFICATE

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I certify that this order uploaded is a true and correct copy of the original signed order. Uploaded by: Shankar Gawde, Stenographer.

¶22

Motimala Trading Private Limited v. 0

Case brief

What is this about?

What did the court decide?

Motimala Trading Private Limited v. 0

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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