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COMA/419/2008 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
APPLICATION No. 419 of 2008
=========================================================
J
K MALT PRODUCTS PVT LTD - Applicant(s)
Versus
.
- Respondent(s)
=========================================================
Appearance
:
MR
PAVAN S GODIAWALA for
Applicant(s) : 1,
None
for Respondent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE RAVI R.TRIPATHI
Date
: 23/07/2008
ORAL
ORDER
1. Heard
the learned advocate for the Applicant.
2. The
present application is preferred under the provisions of Section
391(1) seeking prayer for necessary direction to direct the applicant
to hold, convene the meeting of the Equity Shareholders for
considering and if thought fit with or without modification the
Scheme of Arrangement in the nature of Amalgamation of the J.K.
Malting Pvt Ltd. with the applicant or in the alternative to
dispense with the meeting of the Equity Shareholders, pursuant to
obtaining the consent letters in writing from all the Equity
Shareholders of the applicant.
3. Considering
the averments made in the affidavit in support of Judge’s Summons, as
far as the meetings of the secured creditor and unsecured creditor
are concerned, the ld. Advocate for the applicant submitted that, the
rights of such classes of creditors are adequately protected and as
such their rights are not adversely affected. It is further submitted
that, there are no requirement to convene the meetings of such
classes of Tranferee Company unlike Transferor Company. As far as the
meetings of the Equity Shareholders of the applicant company, all the
equity shareholders has given their consent in writing at Annexure-D,
to the scheme of Arrangement in the nature of Amalgamation at
Annexure-C to the affidavit in support of Judge’s Summons, the
meeting of the Equity Shareholders of the Applicant company is
dispensed with. As there is no requirement for convening and holding
the meetings of the other classes namely unsecured creditors and
secured creditors, order accordingly. It is further directed that,
advertisement in the newspapers and Government Gazette is also
dispensed with.
4. The
present application is disposed of accordingly.
(RAVI
R. TRIPATHI, J.)
mandora/
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