2016 (4) TMI 1252 - HC - Companies Law

Gujarat HC orders meetings for Demerged/Transferor Company stakeholders, notice in newspapers.

The Gujarat HC directed meetings for various stakeholders of the Demerged/Transferor Company to be convened, with notice to be published in specified ... Demerged/ Transferor Company seeking directions for convening the meetings of the Equity and Preference Shareholders as well as of the Secured and Unsecured Creditors of the applicant Company - Held that:- Considering the proposed Scheme of Demerger, the following directions are issued :- (i) The meetings of the Equity and Preference Shareholders as well as the meetings of the Secured and Unsecured Creditors of the applicant Company shall be held on 2nd May 2016, at the registered office of the applicant Company. It is provided that Mr.Chandrakant Patel and in his absence Mr.Tapan Patel, shall be the Chairman of the meeting and shall submit the report of the meeting to this Court. (ii) The notice of the meeting may be published in the English daily newspaper “Indian Express” and the Gujarati daily newspaper “Divya Bhaskar”, both Vadodara editions. Publication in the Government Gazette is dispensed with. The Gujarat High Court, with Honourable Smt. Justice Abhilasha Kumari presiding, issued directions for convening meetings of Equity and Preference Shareholders, as well as Secured and Unsecured Creditors of the applicant Demerged/Transferor Company on 2nd May 2016. The notice of the meeting was to be published in the 'Indian Express' and 'Divya Bhaskar' newspapers. The application was disposed of.