On an application under Sections 391-394 of the Companies Act, 1956, the Court dispensed with the convening of shareholder and creditor meetings for a scheme of arrangement due to unambiguous consents provided by the parties.
Order dispensing with convening meetings of equity shareholders and creditors for the proposed Scheme of Arrangement.
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.661 OF 2016
In the matter of the Companies Act, 1956 (1 of 1956);
AND
In the matter of Section 391 to 394
of the Companies Act, 1956
AND
In the matter of Scheme of
Arrangement
BETWEEN
India Debt Management Private Limited (‘the Demerged Company’)
AND
Reliance Home Finance Limited(‘the Resulting Company’) AND Their Respective Shareholders
| INDIA DEBT MANAGEMENT | ) | |
|---|---|---|
| **PRIVATE LIMITED,**a Company | ) | |
| incorporated under the | ) |
|
| Companies Act, 1956 and having | ||
| its registered office at Level 9, | ) | |
| Platina, C-59, G-Block, | ) | |
| BandraKurla Complex, Bandra | ) | |
| East. Mumbai400051 | ) |
……Applicant Company |
| Called Summons for Direction |
Mr. Rajesh Shah i/b. Rajesh Shah & Co., Advocates for the Applicant
Coram:B.P. COLABAWALLA, J. Date: 5th August, 2016
MINUTES OF THE ORDER
UPON the application of the Applicant Company above named by a Summons for Direction AND UPON HEARING Mr. Rajesh Shah instructed by Rajesh Shah & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated July1, 2016 of Mr. Vishal Rathi, Director of the Applicant Company, in support of Summons for Direction and the Exhibits therein referred to, IT IS ORDERED THAT:
(B.P. Colabawalla, J.)
CERTIFICATE
I certify that this Order uploaded is a true and correct copy of original
signed order.
Uploaded by : Shankar Gawde, Stenographer.
1 issue framed by the court
Whether a meeting of equity shareholders and creditors needs to be convened for the Scheme of Arrangement under Section 391 Companies Act, 1956.
1 provisions across 1 enactments
India Debt Management Private Limited
Reliance Home Finance Limited
B.P. COLABAWALLA
J.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
