Allowed
Azim Premji Custodial Services Private v. Nil
Karnataka HCCA/83/2013
Case brief
AI extract
What is this about?
The High Court of Karnataka allowed the applicant's petition to dispense with shareholder and creditor meetings for approving the Scheme of Arrangement under Section 391 of the Companies Act, 1956, based on written no objection letters from shareholders and creditor consent. The applicant is permitted to file the company petition within 45 days.
What did the court decide?
Meeting of shareholders and creditors was dispensed with. Applicant permitted to file company petition within 45 days.