Application to dispense with convening meetings and giving notices to shareholders and creditors for amalgamation scheme allowed due to written consents and non-affected creditors.
The requirement of holding meetings of Equity Shareholders and Unsecured Creditors of the Applicant-Transferor Company for the proposed Scheme of Amalgamation is dispensed with.
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.
S.B.COMPANY APPLICATION NO.4/15 STANDARD CHROMATES PRIVATE LIMITED
1
IN THE HIGH COURT OF JUDICATURE FOR RAJASTHAN AT JODHPUR
ORDER
S.B.COMPANY APPLICATION NO.4/15
STANDARD CHROMATES PRIVATE LIMITED
Dated:- 13th February, 2015.
HON'BLE MR.JUSTICE SANGEET LODHA
Mr.Mohit Singhvi, for the applicant.
S.B.COMPANY APPLICATION NO.4/15 STANDARD CHROMATES PRIVATE LIMITED
2
Private Limited ('The Fifth Transferor Company) and Vinay Multitrade Private Limited ('The Sixth Transferor Company) and Jainesh Trading Company Private Limited ('The Seventh Transferor Company) and Anvancetech Computers Private Limited ('The Eighth Transferor Company) and Subhra Trading Pivate Limited ('The Ninth Transferor Company) and Interpack Developers Private Limited ('The Tenth Transferor Company) and Standard Chromates Private Limited ('The Eleventh Transferor Company) and ISS International Limited ('The Transferee Company).
S.B.COMPANY APPLICATION NO.4/15 STANDARD CHROMATES PRIVATE LIMITED
3
S.B.COMPANY APPLICATION NO.4/15 STANDARD CHROMATES PRIVATE LIMITED
4
Company and their consent letters have been placed on record as Annexure I & J. In view of the consent given by the Equity Shareholders in writing agreeing to Scheme of Amalgamation, the requirement of convening the meeting of Equity Shareholders is dispensed with.
(SANGEET LODHA),J.
Aditya/
3 issues framed by the court
Whether meetings of equity shareholders and unsecured creditors are required when consent is given in writing.
Whether requirement of giving individual notices can be dispensed with in a scheme of amalgamation.
Whether the proposed amalgamation adversely affects unsecured creditors by virtue of assets exceeding liabilities.
Colour shows how this judgement treated each authority
nullReferred
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4 provisions across 1 enactments
STANDARD CHROMATES PRIVATE LIMITED
BESONS REAL ESTATE PRIVATE LIMITED
BLUEVISUAL MULTITRADING PRIVATE LIMITED
REDWIRE DEVELOPERS PRIVATE LIMITED
MANISH MANAGEMENT CONSULTANCY PRIVATE LIMITED
SANTOSH EXIM PRIVATE LIMITED
SANGEET LODHA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
