Famous Studios Ltd. v. ---
Case brief
What is this about?
The High Court dispensed with convening meetings of equity shareholders, preference shareholders, creditors, and debenture holders, and with publication in the Government Gazette. This was based on the Applicant obtaining 96.42% shareholder consent and declaring absence of other stakeholder classes.
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.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 924 OF 2016
In the matter of the Companies Act, 1956 (1 of 1956);
and
In the matter of Sections 391 to 394 of the Companies Act, 1956;
and
In the matter of Scheme of Arrangement and Reconstruction under Sections 391 to 394 of the Companies Act, 1956 and applicable provisions under the Companies Act, 2013, between Famous Studios Limited, the promoters of Famous Studios Limited and the public shareholders of Famous Studios Limited
Famous Studios Limited , CIN No U92190MH1946PLC004996 a company incorporated under the Companies Act, 2013 and having its registered office at 20, Dr. E.
) ) ) ) )
Moses Road, Mahalaxmi, ) Mumbai, Maharashtra – 400 011 ) …Applicant Company
Called for Summons for Direction
Mr. Peshwan Jehangir, Ms.Krishna Kedia and Mr. Himanshu Vidhani i/b Khaitan & Co., Advocates for the Applicant Company
Issues for consideration
2 issues framed by the court
Whether the convening and holding of meetings of equity shareholders, preference shareholders, creditors, debenture holders, and the publication of scheme notices in the Government Gazette are necessa
Whether dispensation is available from procedural requirements under Sections 391-394 of the Companies Act, 1956 and the Companies Act, 2013 in case of majority shareholding consent.
Parties & counsel
- applicant
Famous Studios Limited
Coram
S.C. Gupte
Case details
As recorded by the court registry
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