Imcd Group B v. Vs -
Case brief
What is this about?
The Bombay High Court sanctioned a scheme of arrangement between IMCD Group B.V. and IMCD India Private Limited under Sections 391-394 of the Companies Act, 1956. The court observed the scheme was fair, reasonable, and not violative of law, disposing of the petitions as absolute.
What did the court decide?
The prayers in the scheme petitions were made absolute; specified undertakings were accepted; and directions were issued for stamp duty assessment and ROC filing.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SCHEME PETITION NO. 58 OF 2016.
CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO. 914 OF 2015.
IMCD GROUP B.V
....Petitioner/ the Transferor Company
AND
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY SCHEME PETITION NO. 59 OF 2016.
CONNECTED WITH
COMPANY SUMMONS FOR DIRECTION NO. 915 OF 2015.
Issues for consideration
2 issues framed by the court
Whether the Scheme of Arrangement between IMCD Group B.V. and IMCD India Private Limited is fair, reasonable, and compliant with statutory requirements.
Whether the sanctions imposed by the Regional Director regarding FEMA, annual returns, and tax issues must be complied with before sanctioning the scheme.
Parties & counsel
- petitioner
IMCD GROUP B.V.
- petitioner
IMCD INDIA PRIVATE LIMITED
- respondent
Regional Director
Coram
Case details
As recorded by the court registry
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