{"id":146590,"date":"2010-08-23T00:00:00","date_gmt":"2010-08-22T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/abhinav-vs-unknown-on-23-august-2010"},"modified":"2018-02-15T06:40:59","modified_gmt":"2018-02-15T01:10:59","slug":"abhinav-vs-unknown-on-23-august-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/abhinav-vs-unknown-on-23-august-2010","title":{"rendered":"Abhinav vs Unknown on 23 August, 2010"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Abhinav vs Unknown on 23 August, 2010<\/div>\n<div class=\"doc_author\">Author: M.R. Shah,&amp;Nbsp;<\/div>\n<pre>   Gujarat High Court Case Information System \n\n  \n  \n    \n\n \n \n    \t      \n         \n\t    \n\t\t   Print\n\t\t\t\t          \n\n  \n\n\n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nCOMP\/149\/2009\t 3\/ 5\tJUDGMENT \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nCOMPANY\nPETITION No. 149 of 2009\n \n\nIn\n\n\n \n\nCOMPANY\nAPPLICATION No. 84 of 2009\n \n\nWith\n\n\n \n\nCOMPANY\nPETITION No. 150 of 2009\n \n\nIn\n\n\n \n\nCOMPANY\nAPPLICATION No. 84 of 2009\n \n\nTo\n\n\n \n\nCOMPANY\nPETITION No. 152 of 2009 \n\n \n\nIn\n\n\n \n\nCOMPANY\nAPPLICATION No. 86 of 2009\n \n\n \n \nFor\nApproval and Signature:  \n \nHONOURABLE\nMR.JUSTICE M.R. SHAH\n \n \n===========================================\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n1\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\tReporters of Local Papers may be allowed to see the judgment ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n2\n\t\t\n\t\t \n\t\t\t \n\nTo\n\t\t\tbe referred to the Reporter or not ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n3\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\ttheir Lordships wish to see the fair copy of the judgment ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n4\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\tthis case involves a substantial question of law as to the\n\t\t\tinterpretation of the constitution of India, 1950 or any order\n\t\t\tmade thereunder ?\n\t\t\n\t\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\n5\n\t\t\n\t\t \n\t\t\t \n\nWhether\n\t\t\tit is to be circulated to the civil judge ?\n\t\t\n\t\n\n \n\n \n===========================================\n \n\nABHINAV\nSERVICES PRIVATE LIMITED - Petitioner(s)\n \n\nVersus\n \n\n.\n- Respondent(s)\n \n\n===========================================\n \n\nAppearance\n: \nMR PARITOSH\nCALLA for\nPetitioner(s) : 1, \nMR IQBAL SHAIKH for Respondent(s) :\n1, \n===========================================\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\nCORAM\n\t\t\t: \n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tMR.JUSTICE M.R. SHAH\n\t\t\n\t\n\n \n\n \n \n\n\n \n\nDate\n: 12\/04\/2010 \n\n \n\n \n \n\n\n \n\nORAL\nJUDGMENT<\/pre>\n<p>1.\t\tAll<br \/>\nthese petitions are filed by respective Companies for sanction of<br \/>\nscheme of arrangement in the nature of amalgamation of Abhinav<br \/>\nService Private Limited, Anuj Services Private Limited, Vibhuti<br \/>\nServices Private Limited (Transferor Companies) with Rakshak<br \/>\nServices Private Limited (Transferee Company) under section<br \/>\n391 read with section 394 of the Companies Act, 1956.\n<\/p>\n<p>2.\t\tCompany<br \/>\nPetition No.149 of 2009 has been preferred by Abhinav Services<br \/>\nPrivate Limited one of the transferor company. That pursuant to the<br \/>\norder dated 23rd March, 2009 passed by this Court in<br \/>\nCompany Application No.83 of 2009, a meeting of equity shareholders<br \/>\nand unsecured creditors was ordered to be convened with the<br \/>\nobservations that there is no secured creditor of the company. It is<br \/>\nreported that meeting of equity shareholders and unsecured creditors<br \/>\nwere convened on 02.05.2009 and the proposed scheme of amalgamation<br \/>\nhas been approved by the requisite majority.  Chairman&#8217;s report on<br \/>\naffidavit stating that meeting was convened on 02.05.2009 and scheme<br \/>\nhas been approved by requisite majority has been placed on record.\n<\/p>\n<p>2.1.\t\tThat<br \/>\nadmission of the petition was advertised \/ published in English Daily<br \/>\n&#8216;Indian Express&#8217; and Gujarati daily &#8216;Lok Satta&#8217; and &#8216;Jan Satta&#8217; both<br \/>\nVadodara Edition notifying dated 12.08.2009 as date for final<br \/>\nhearing. Notice was also issued to the Regional Director, Western<br \/>\nRegion, Mumbai. That Notice was also issued upon Official Liquidator<br \/>\nfor examination of the affairs of the petitioning transferor company<br \/>\nwith liberty to engage Chartered Accountant for the aforesaid<br \/>\nexamination.  That Regional Director, Western Region, Mumbai and<br \/>\nOfficial Liquidator have submitted their report.\n<\/p>\n<p>3.\t\tCompany<br \/>\nPetition No.150 of 2009 and Company Petition No.151 of 2009 have been<br \/>\npreferred by other Transferor Companies to sanction scheme of<br \/>\narrangement in the nature of amalgamation. That meeting of equity<br \/>\nshareholders and unsecured creditors of both the petitions were<br \/>\nconvened on 02.05.2009 and scheme has been approved by equity<br \/>\nshareholders and unsecured creditors of both the aforesaid companies<br \/>\nby requisite majority. Chairman&#8217;s report on affidavit stating that<br \/>\nmeeting were convened on 02.05.2009 and scheme has been approved by<br \/>\nrequisite majority is placed on record.\n<\/p>\n<p>4.\t\tCompany<br \/>\nPetition No.152 of 2009 has been preferred by Rakshak Services<br \/>\nPrivate Limited   Transferee Company to sanction scheme of<br \/>\namalgamation. Meeting of equity shareholders and unsecured creditors<br \/>\nas ordered to be convened pursuant to the order dated 23.03.2009<br \/>\npassed in Company Application No.86 of 2009.  That  scheme has been<br \/>\napproved by requisite majority and Chairman of the meeting has filed<br \/>\nthe affidavit stating that a meeting was convened on 02.05.2009 and<br \/>\nthe scheme has been approved by the requisite majority.\n<\/p>\n<p>4.1.\t\tAdmission<br \/>\nof the petition was published in  English Daily &#8216;Indian Express&#8217; and<br \/>\nGujarati daily &#8216;Lok Satta&#8217; and &#8216;Jan Satta&#8217; both Vadodara Edition.<br \/>\nNotice has also been issued to the Regional Director, Western Region,<br \/>\nMumbai.\n<\/p>\n<p>5.\t\tAfter<br \/>\npublication of admission of aforesaid petitions no one has come<br \/>\nforward with any objection to the said petitions after publication.<br \/>\nNotice of the petitions were also served upon Official Liquidator<br \/>\nattached to High Court of Gujarat and Official Liquidator has filed<br \/>\nseparate reports dated 03.02.2010 in each of the Transferor companies<br \/>\nwherein it is stated that respective transferor companies have not<br \/>\nbeen conducted in a manner prejudicial to the interest of their<br \/>\nmembers or the public.\n<\/p>\n<p>6.\t\tNotice<br \/>\nof petition has also be served upon Central Government through<br \/>\nRegional Director, Western Region, Mumbai and Mr.Iqbal Shaikh,<br \/>\nlearned Central Government Standing Counsel has put his appearance on<br \/>\nbehalf of the Central Government. One Mr.Rakesh Chandra, Regional<br \/>\nDirector, Western Region, Mumbai has filed affidavit. No objections<br \/>\nhave been raised to the proposed scheme of amalgamation on behalf of<br \/>\nthe Central Government.\n<\/p>\n<p>7.\t\tHeard<br \/>\nMr.Paritosh Calla, learned Advocate for the respective petitioner<br \/>\nCompanies and Mr.Iqbal Shaikh, learned Central Government Standing<br \/>\nCounsel appearing on behalf of the Central Government.\n<\/p>\n<p>8.\t\tHaving<br \/>\ngone through the contents of the petitions and having regard to the<br \/>\nfact that Official Liquidator in his report filed in the case of each<br \/>\nof the transferor companies, has stated that the affairs of the<br \/>\nrespective transferor companies have not been conducted in a manner<br \/>\nprejudicial to the interest of their members or the public and having<br \/>\nregard to the fact that the Central Government after due notice as<br \/>\nrequired under the provisions of Section 394A of the Companies Act,<br \/>\n1956, has not brought anything adverse to the notice of the Court and<br \/>\nthat despite publication of admission in local newspapers no<br \/>\nobjections have been received and\/or brought on record, this Court is<br \/>\nsatisfied that amalgamation would be in the interest of the companies<br \/>\nand their members and creditors.\n<\/p>\n<p>9.\t\tIn<br \/>\nthe aforesaid premises, the petitions are allowed in terms of reliefs<br \/>\nprayed in paragraph No. 20(a) of the respective petitions and scheme<br \/>\nof arrangement referred to in para   8 of the petitions being<br \/>\n&#8216;Annexure   C&#8217; is hereby sanctioned so as to be binding on all<br \/>\nEquity Shareholders and Creditors of the respective petitioner<br \/>\ncompanies. Necessary consequences on sanction of scheme shall follow.<br \/>\nCosts to be paid to the Central Government Counsel are quantified at<br \/>\nRs.5000\/- (Rupees Five Thousand only) per petition. The same may be<br \/>\npaid to Mr.Iqbal Shaikh, learned Central Government Standing Counsel<br \/>\nby respective petitioner   companies through their advocate.\n<\/p>\n<p>\t\tWith<br \/>\nthese, all the Company Petitions are allowed.\n<\/p>\n<p>[M.R.Shah,J.]<\/p>\n<p>satish<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Abhinav vs Unknown on 23 August, 2010 Author: M.R. Shah,&amp;Nbsp; Gujarat High Court Case Information System Print COMP\/149\/2009 3\/ 5 JUDGMENT IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY PETITION No. 149 of 2009 In COMPANY APPLICATION No. 84 of 2009 With COMPANY PETITION No. 150 of 2009 In COMPANY APPLICATION [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,8],"tags":[],"class_list":["post-146590","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Abhinav vs Unknown on 23 August, 2010 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/abhinav-vs-unknown-on-23-august-2010\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abhinav vs Unknown on 23 August, 2010 - Free Judgements of Supreme Court &amp; 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