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COMA/42/2010 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
APPLICATION No. 42 of 2010
In
COMPANY
APPLICATION No. 490 of 2009
======================================
MEENA
AGENCY LIMITED
======================================
Appearance :
MRS
SWATI SOPARKAR for Applicant
======================================
CORAM
:
HONOURABLE
MR.JUSTICE ANANT S. DAVE
Date
: 26/02/2010
ORAL
ORDER
The
present application is moved by the applicant [de-merged company]
seeking modification in the directions issued by this Court vide
order dated 18.12.2009 passed in Company Application No.490 of 2009.
It
has been submitted on oath by the authorized signatory of the
applicant-company that the applicant-company is not in a position
to convene the meetings on 6th March 2010 as directed,
due to unavoidable circumstances. The applicant has placed on record
the Board Resolution dated 1.2.2010, whereby, the Board of Directors
expressed desire to seek directions with regard to postponement of
the said meetings and obtain the direction for another day and date
for conducting such meetings. The applicant undertakes to abide by
all other directions issued earlier with regard to the service of
notice and publication of notice in newspapers for the said meetings
in relation to the new date for such meetings. It is also indicated
that the proposed modification does not in any manner affect the
rights and interests of any of the creditors.
Considering
the facts and circumstances of the case and the submissions made on
behalf of the applicant, the order dated 18.12.209 is partially
modified with regard to paragraph 3 of the said order. Paragraph 3
reads as under:
3.
That separate meetings of the Secured and Unsecured Creditors of the
Applicant Company be convened and held at 1st Floor,
Panchmukhi Shopping Centre, P.N.Marg, Jamnagar-361008 on Saturday,
the 6th day of March, 2010 respectively at 4.00 p.m. And
5.00 p.m., for the purpose of considering, and if thought fit,
approving with or without modifications, the Scheme of Arrangement in
the nature of De-merger and transfer of the De-merged Undertaking
viz.(a)Pat-coke Crushing Unit at Jogwad, (b)Cupola Grade Bauzite Unit
at Zankhar, (c)Trading Division of MAL and (d)Investment Division of
MAL, the Applicant De-merged Company, as proposed between the
Applicant Company and the Secured and Unsecured Creditors of the
Applicant Company.
It
is hereby ordered that paragraph 3 of the order dated 18.12.2009 be
replaced as under:
3.
That separate meetings of the Secured and Unsecured Creditors of the
Applicant Company be convened and held at 1st Floor,
Panchmukhi Shopping Centre, P.N.Marg, Jamnagar-361008 on Thursday,
the 8th day of April, 2010 respectively at 4.00 p.m. and
5.00 p.m., for the purpose of considering, and if thought fit,
approving with or without modifications, the Scheme of Arrangement in
the nature of De-merger and transfer of the De-merged Undertaking
viz.(a)Pat-coke Crushing Unit at Jogwad, (b)Cupola Grade Bauzite Unit
at Zankhar, (c)Trading Division of MAL and (d)Investment Division of
MAL, the Applicant De-merged Company, as proposed between the
Applicant Company and the Secured and Unsecured Creditors of the
Applicant Company.
4. It
is hereby further clarified that barring the above-referred
modification with regard to the day and date of the meetings, all
other directions in the order dated 18.12.2009 shall be complied with
by the applicant-company in relation to the new date granted for the
said meetings.
This
application stands disposed of.
(ANANT
S. DAVE, J.)
(swamy)
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