Single judge order dispensing with the convening of shareholders and creditors meetings for a scheme of amalgamation under Sections 391 and 392 of the Companies Act, 1956, based on unanimous consent and lack of creditors.
Order dispensing with meetings of equity/pref/share/s and secured/unsecured creditors regarding the amalgamation scheme.
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.369 OF 2016
In the matter of Companies Act, 1956 AND In the matter of Sections 391 to 394 of the Companies Act, 1956 AND In the matter of the Scheme of Amalgamation of Rathi Brothers Delhi Limited (Transferor Company-1) And Rathi Brothers Madras Limited (Transferor Company-2) And Rathi Brothers Calcutta Limited (Transferor Company-3) into Rathi Brothers Poona Limited (Transferee Company)
Rathi Brothers Poona Limited, a ) company incorporated under the ) Companies Act, 1956 and having ) its registered office at 162, ) Wellesley Road, Pune – 411 001 ) …….Applicant Company
Called Summons for Direction for hearing
Mr. Kunal Mehta i/b M/s. Crawford Bayley & Co, Advocate for Applicant Company
CORAM: S.C. GUPTE, J DATE: 4th MAY, 2016
MINUTES OF THE ORDER
UPON the Application of the Applicant Company above named by a Summons for Direction, AND UPON HEARING Mr. Kunal Mehta instructed by M/s. Crawford Bayley & Co., Advocates for the Applicant Company, AND
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UPON READING the Affidavit dated April 18, 2016 of Mr. P.S. Raghavan, Authorised Signatory of the Applicant Company, in support of Summons for Direction, and the Exhibits therein referred to, IT IS ORDERED-:
(S.C. Gupte, J.)
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CERTIFICATE
I certify that this Order uploaded is a true and correct copy of original
signed order.
Uploaded by : Shankar Gawde, Stenographer.
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2 issues framed by the court
Whether the meeting of equity and preference shareholders is dispensed with due to unanimous consent.
Whether the meeting of secured and unsecured creditors is required given the absence of such creditors.
1 provisions across 1 enactments
Rathi Brothers Poona Limited
S.C. GUPTE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
