Disposed
Wordworks Apex Ites (India) Private Limited v. -
Telangana HCCOMPA/523/2012
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from the order text
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SRI JUSTICE RAMESH RANGANATHAN COMPANY…
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SRI JUSTICE RAMESH RANGANATHAN COMPANY…
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THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN
COMPANY APPLICATION No.523 OF 2012
ORDER:
This application is filed by Wordworks Apexites (India) Private Limited, (the Transferee Company), requesting this Court to dispense with the meeting of its equity shareholders, and its unsecured creditors.
In so far as the shareholders of the Transferee Company are concerned, it is evident from the affidavit filed in support of the application that the entire shareholding of 11,00,000 shares in the Transferee Company are held by M/s. Apex Data Services Inc. USA for 10,99,999 shares, and Dr.Shashikant Gupta for one share. Affidavits of consent by Dr. Shashikant Gupta, both on his behalf and on behalf of M/s. Apex Data Services Inc. USA, are enclosed along with the application. By memo dated 06.06.2012, a copy of the resolution of the meeting of the Board of Directors of Apex Data Services Inc. held on 15.07.2011 is filed, whereby the said Company had accorded its consent to the proposed scheme of amalgamation, and had authorised Dr. Shashikant Gupta to execute documents and consent letters in connection with the proposed scheme of amalgamation.
As all the shareholders of the Transferee Company have given their consent to the proposed scheme of amalgamation, it is wholly unnecessary that a meeting of the equity shareholders be convened.
In so far as the unsecured creditors are concerned, Sri A. Sanjay Kishore, Learned Counsel for the applicant, would submit that the applicant does not press for the relief to dispense with the meeting of the unsecured creditors in this Company Application, and these questions can be examined later when the Company
Petition is heard.
Consequently, the Company Application is closed.
_____________________________ RAMESH RANGANATHAN, J
June 07, 2012 MD
THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN
COMPANY APPLICATION No.523 OF 2012
June 07, 2012
MD
Wordworks Apexites (India) Private Limited
RAMESH RANGANATHAN
As recorded by the court registry
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