Gujarat High Court Case Information System
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COMA/103/2010 1/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
APPLICATION No. 103 of 2010
=========================================================
TASHKENT
PETROCHEM PRIVATE LIMITED - Applicant(s)
Versus
.
- Respondent(s)
=========================================================
Appearance :
MR
SP MAJMUDAR for
Applicant(s) : 1,MR PP MAJMUDAR for Applicant(s) : 1,
None for
Respondent(s) :
1,
=========================================================
CORAM
:
HONOURABLE
MR.JUSTICE M.R. SHAH
Date
: 16/04/2010
ORAL
ORDER
Present
Judges Summons has been taken out by the applicant-Tashkent
Petrochem Pvt. Ltd. (Transferee Company) for an appropriate order to
dispense with the meeting of the Equity Shareholders of the
applicant-Transferee Company for considering and/or approving the
proposed scheme of arrangement and de-merger of the
applicant-Company with the Surat undertaking of Tashkent Oil Company
Pvt. Ltd. (Transferor Company) as contemplated as required under
Section 391 (1) of the Companies Act, 1956.
Shri
S.P.Majmudar, learned advocate appearing on behalf of the
applicant-Transferee Company has drawn attention of the Court to
Pages 84 to 86
(Annexure-D Colly.) and has submitted that as all the Equity
Shareholders of the applicant-Transferee Company have
given their consent in writing to the proposed scheme
of arrangement in the nature of de-merger of the applicant-Company
with Surat undertaking of the Transferor Company, it is requested to
dispense with the meeting of the Equity Shareholders of the
applicant-Transferee Company as required under Section 391(1) of the
Companies Act, 1956. It is reported that the Transferee Company has
no Secured Creditors and Unsecured Creditors.
Having
heard Shri Majmudar, learned advocate appearing on behalf of the
applicant-Transferee Company and considering the documents at
Annexure-D Colly. and considering the fact that all the Equity
Shareholders of the applicant-Transferee Company have given their
consent to the proposed scheme of arrangement, de-merger of the
applicant-Company with the Surat undertaking with the Transferee
Company and the Certificate issued by the Chartered Accountant to
the aforesaid effect (page 87), the meeting of the Equity
Shareholders of the applicant-Transferee Company to consider and/or
approve the proposed scheme of de-merger with the Surat undertaking
of Tashkent Oil Company Pvt. Ltd. (Transferor Company) as
contemplated under Section 391(1) of the Companies Act is hereby
dispensed with.
With
this, present application is disposed of.
(M.R.SHAH,
J.)
(ashish)
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