Allowed

M/s Cordys Software India Private Limited, v. -

Telangana HC24 Oct 2014COMPA/1262/2014

Case brief

AI extract

What is this about?

This order appoints a chairperson to convene meetings of creditors and shareholders for a proposed scheme of amalgamation on 29.11.2014, fixing remuneration and prescribing publication requirements.

What did the court decide?

Appointment of chairperson to convene meetings for amalgamation scheme; fixed remuneration of Rs.40,000; directed to publish notice in specified newspapers.

M/s Cordys Software India Private Limited, Vs - — Company and Corporate | Telangana HC (2014)

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THE HON’BLE SRI JUSTICE A.RAJASHEKER REDDY

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COMPANY APPLICATION NO.1262 OF 2014

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O R D E R :

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This application is filed for appointment of chairperson to convene the meeting on 29.11.2014 of the secured creditors at 11.30AM and unsecured creditors, members/shareholders at 03.30PM of the applicant company at the registered office of the applicant, for consideration of the proposed scheme of amalgamation.

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The applicant pleaded that it was initially incorporated in the State of Andhra Pradesh on 22.01.2007 and that its registered office is situated at H.No.8-2-418, 1^st Floor, Meenakshi House, Road No.7, Banjara Hills, Hyderabad, Andhra Pradesh – 500 034, that its main objects are to carry on business as importers, exporters, dealers, distributors, agents, representatives of power generation, transmission and distribution equipment/s and to install, erect, commission, repair, maintain equipments and to manufacture, produce, buy sell, import, export, stock and deal in machine tools grinding machine, automatic lathes, drilling machines, planning machines, plane grinders, machinery or every description, precision tools, cutting and small tools, electric meters, electrical meters, cables, wires, switch gears, flame and drip proof motors, electric fans, regulators of all types, electric kilowatt hour meters, magnets, industrial jewels, ammeters, volt meters and other type of measuring equipment, electrical or non-electric die casting, screws, nut and bolts, transformers of all types, circuit breakers, hoists, elevators, gears, trolleys and coaches withes, air compressors, welders, refrigerators, switches, electric transmission towers, polls tubes, insulating material, conductors, fuse and fuse wires, adopters, television and wireless apparatus including radio receivers and transmitters, microwave components, radar equipment. Valves, resistors, electronic

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instruments, conductors, magnetic materials, transistor and allied items, to construct, lay down, establish, promote, erect, build, install commission, carry out and run all necessary power substations, workshops, repair shops, wires, cables, transmission lines, accumulators, for the purpose of conversion, distribution and supply of electricity of participating industries, state electricity boards and other boards for industrial, commercial, domestic, public and other purposes and also to private regular services for repairing and maintenance of all distribution and supply lines and that to acquire concession, facilities or licenses from electricity board, Government semi Governments or local authorities for generation, distribution, production, transmission or use of electric power and to take over along with movable and immovable properties, the existing facilities on mutually agreed terms from aforesaid authorities and to do all incidental acts and things necessary for the attainment of foregoing objects and that to carry on the business of rendering consultancy and other Services in the areas of generation, distribution and transmission of power. Its present authorized share capital of the transferee company is Rs.12,00,00,000/- divided into 1,20,00,000 equity shares of Rs.10/- each and that its issued, subscribed and paid up capital is Rs.10,28,95,350/- divided into 1,02,89,535 fully paid up equity shares of Rs.10/- each. It has further pleaded that by the Board Resolution dated 10.06.2014, the scheme of amalgamation was approved. The applicant has further pleaded that it has obtained the consents of preferential shareholders who are seven in number.

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Having regard to the above facts pleaded by the applicant,

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, Advocate, is appointed as chairperson to hold the meeting on 29.11.2014 of the secured creditors at 11.30AM and unsecured creditors, members/shareholders at 03.30PM of the applicant

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company at the registered office of the applicant, for consideration of the proposed scheme of amalgamation. The remuneration of the chairperson is fixed at Rs.40,000/- (Rupees Forty Thousand only) payable apart from other docket expenses to be paid by the applicant company. The applicant shall carryout publication in Business Standard (English daily) and Andhra Bhoomi (Telugu daily) of Hyderabad editions, regarding the proposed meeting, in terms of Rule 24 of the Companies (Court) Rules, 1959.

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Post on 10.12.2014 for filing of chairperson’s report.

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_______________________________ A.RAJASHEKER REDDY, J 24.10.2014 kvrm

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THE HON’BLE SRI JUSTICE A.RAJASHEKER REDDY

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COMPANY APPLICATION NO.1262 OF 2014

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DATE: 24.10.2014

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kvrm

M/s Cordys Software India Private Limited, v. -

Case brief

What is this about?

What did the court decide?

M/s Cordys Software India Private Limited, v. -

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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