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COMP/29/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
PETITION No. 29 of 2010
In
COMPANY
APPLICATION No. 422 of 2009
=========================================================
ESSAR
STEEL LIMITED - Petitioner(s)
Versus
.
- Respondent(s)
=========================================================
Appearance :
MRS
SWATI SOPARKAR for
Petitioner(s) : 1,
None for Respondent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE D.A.MEHTA
Date
: 16/02/2010
ORAL
ORDER
1. Heard
learned Advocate for the petitioner Transferee Company.
2. In
relation to the proposed Scheme of Arrangement in the nature of
amalgamation between Essar Steel Limited (Transferee Company) and
four Transferor Companies, viz. (i)Essar Steel (Hazira) Limited, (ii)
Hazira Plate Limited, (iii) Hazira Pipe Mill Limited and (iv) Essar
Steel Orissa Limited (Transferor Companies), an order came to be made
on 19.11.2009 in Company Application No. 422 of 2009 directing
convening separate meetings of the Equity Shareholders, Preference
Shareholders and Secured Creditors of the petitioner Company.
3. Accordingly
on 02.01.2010 and 30.01.2010 separate meetings were convened and the
aforesaid Scheme was approved by requisite majority of 96.51% in
number and 99.99% in value by Equity Shareholders and unanimously
approved by the Preference Shareholders and Secured Creditors of the
petitioner Company present and voting at the meeting in person or
through proxy. The reports of the Chairman along with Affidavits
dated 08.01.2010 and 05.02.2010 respectively confirming the
proceedings of the meetings have been placed on record.
4. Admit.
5. Advertisement
to be issued in Indian Express, English Daily (Vadodara Edition) and
Gujarat Mitra, Gujarati Daily ( Surat Edition). Publication in
Government Gazette is dispensed with.
6. Notice
to the Central Government through the Regional Director, Department
of Corporate Affairs, Everest 5th Floor, 100 Marine Drive,
Mumbai 400 002.
7. To
be listed on 30.03.2010.
Sd/-
(D.A.
Mehta, J.)
M.M.BHATT
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