2006 (8) TMI 327

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....the scheme of compromise between Modern Denim Ltd., and its secured creditors. 2. That the applicant company was incorporated as Modern Suitings (P.) Ltd., in November 1977 as a part of Modern Group of Companies. As a part of an exercise to restructure its activity the Modern Suitings Ltd. spun off its suiting division to Modern Syntax (India) Ltd. in April 1993 under the scheme of arrangement approved by this Court. The name of Modern Suitings Ltd. thereafter was changed to the present name, i.e., Modern Denim Ltd. 3. The position authorized issued, subscribed and paid up capital of the applicant company as on date is detailed out in para No. 3 of the application. 4. The main objects of the applicant company as set out in the obje....

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....urpose of considering and if thought fit, approving with or without modifications, the proposed scheme of compromise shall be convened and held as per the following schedule - Name Date and time Place Secured creditors of the Company 20-9-2006 at 11.30 a.m. (Wednesday) Hotel Meru Place, Sawai Ram Singh Road, Opposite SMS Hospital, Jaipur 7. That at least 21 clear days before the days fixed for the meetings an advertisement convening the same and stating that copies of the said proposed scheme of compromise required to be furnished shall be furnished pursuant to section 393 of the Act, 1956 and forms of proxy can be obtained free of charge at the office of the applicant company or from the office of its advocates be adve....