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COMP/127/2011 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
PETITION No. 127 of 2011
In
COMPANY
APPLICATION No. 368 of 2011
=========================================
ARVIND
LTD - Petitioner(s)
Versus
.
- Respondent(s)
=========================================
Appearance :
MRS
SWATI SOPARKAR for Petitioner(s) : 1,
None for Respondent(s) :
1,
=========================================
CORAM
:
HONOURABLE
MR.JUSTICE K.M.THAKER
Date
: 06/09/2011
ORAL
ORDER
1. This is a
petition filed by the Resulting/Transferee company as abovenamed in
the proposed Composite Scheme of Arrangement in the nature of
Demerger and transfer of Investment Division of Asman Investments
Limited to Arvind Limited and amalgamation of Arvind Products
Limited with Arvind Limited. Heard Mrs. Swati Soparkar, the advocate
for the petitioner Transferee Company.
2. It has been
submitted that vide order dated 06.07.2011 passed in Company
Application No. 368 of 2011 (Copy at Annex. ‘D’),
separate meetings of the Equity Shareholders and Secured Creditors
were directed to be convened and the same were duly convened and held
on 11th and 12th day of August 2011. The
proposed scheme of arrangement was duly approved at the said
meetings- unanimously by the Secured Creditors and by the requisite
statutory majority i.e. 99.13% in number and 99.997% in value by the
Equity Shareholders of the Company, present and voting at the said
meetings. The Chairman’s report along with the affidavit of the
chairman dated 24th August 2011 has been placed on record.
(Copy at Annexure ‘E’ ). Hence, the present petition is
moved for obtaining the sanction of this court.
3. Admit.
4. To be heard
on Monday, the 10th day of October 2011.
5. Notice of
Hearing of Petition, to be advertised in ‘Indian Express’, English
daily, and ‘Gujarat Samachar’, Gujarati daily, Ahmedabad Editions.
Publication in Government Gazette is dispensed with.
6. Notice to the
Central Govt. through the Regional Director, North- Western Region,
Ministry of Corporate Affairs.
(K.M.THAKER,
J.)
jani
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