2016 (7) TMI 278

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....03 of the Companies Act, 1956 and Section 52 of the Companies Act, 2013. 2. In this regard, the present application is filed by the abovenamed Applicant Demerged company by summons dated 23rd June 2016. Smt. Swati Soparkar, learned advocate appears for the applicant company. The submissions are made for (i) seeking dispensation of the meeting of the Equity Shareholders of the Applicant Company, (ii) seeking directions for convening meeting of the Unsecured Creditors of the Applicant Company; and (iii) seeking dispensation of the procedure as envisaged under Sec. 100 to 103 of the Companies Act, 1956. 3. It has been submitted that all the Equity Shareholders of the Applicant Company have approved the scheme in form of the written conse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tances, it is hereby held that the procedure prescribed under Section 101(2) of the Companies Act, 1956 and under rule 48 to 65 of the Companies (Court) Rules 1959 is not necessary to be followed and the same is hereby dispensed with. 5. It has been further submitted that there are no Secured Creditors of the Applicant Company and the same is confirmed by the certificate issued by the Chartered Accountant annexed as Exhibit' E'. Hence the directions are sought to convene a meeting of only Unsecured Creditors of the Applicant Company; IT IS ORDERED: 6. That a meeting of the Unsecured Creditors of the Applicant Company shall be convened and held at the registered office of the Applicant Company situated at A35, Pariseema Complex, Opp....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the date, the place and time as aforesaid be published, stating that copies of the Scheme of Arrangement, the Explanatory Statement required to be furnished pursuant to Section 393 of the Companies Act, 1956 and Form of Proxy can be obtained free of charge at the Registered Office of the Applicant Company and/or at its Advocate's office i.e. 301, Shivalik10, Opp. SBI Zonal Office, S. M. Road, Ambavadi, Ahmedabad 380 015 once each in the Indian Express, English daily and Sandesh, Gujarati daily (both Ahmedabad editions). 9. Shri Pravinbhai D. Majithia, the Director of the Applicant Company and failing him Shri Hasmukhbhai D. Majithia, the Authorised Officer of the Applicant Company, shall be the Chairman of the aforesaid meeting to be hel....