{"id":168878,"date":"2011-07-06T00:00:00","date_gmt":"2011-07-05T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/vs-none-for-on-6-july-2011"},"modified":"2016-09-01T09:03:21","modified_gmt":"2016-09-01T03:33:21","slug":"vs-none-for-on-6-july-2011","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/vs-none-for-on-6-july-2011","title":{"rendered":"========================================= vs None For on 6 July, 2011"},"content":{"rendered":"
Gujarat High Court<\/div>\n
========================================= vs None For on 6 July, 2011<\/div>\n
Author: K.M.Thaker,<\/div>\n
  \n Gujarat High Court Case Information System \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\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nCOMA\/368\/2011\t 5\/ 5\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\n \n\n\n \n\nCOMPANY\nAPPLICATION No. 368 of 2011\n \n\n \n \n=========================================\n \n\nARVIND\nLTD \n\n \n\nVersus\n \n\nBlank\nName \n\n \n\n========================================= \nAppearance\n: \nMRS SWATI SOPARKAR for\nApplicant \nNone for\nRespondent \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 K.M.THAKER\n\t\t\n\t\n\n \n\n \n \n\n\n \n\nDate\n: 06\/07\/2011 \n\n \n\n \nORAL\nORDER<\/pre>\n
\tUpon the application of
\nthe abovenamed Resulting \/ Transferee Company by summons dated 4th
\nJuly 2011, filed under Sections 391 to 394 of the Companies Act,
\n1956, upon hearing Smt.Swati, Soparkar, learned advocate for the
\napplicant Company and upon reading of the affidavit dated 4th
\nJuly 2011, filed in support of the Judges’ Summons for directions and
\nother relevant annexures attached in support of the contents of the
\naffidavit filed by the deponent (Exhibit ‘C’ being a copy of the
\nproposed scheme of arrangement),  it is ordered :\n<\/p>\n
[1]\tThat a meeting of
\nthe Secured Creditors of the applicant –\n<\/p>\n
Company shall be
\nconvened and held at the registered office of the applicant –
\nCompany at Arvind Mills Premises, Naroda Road, Ahmedabad 380 025 in
\nthe State of Gujarat on Thursday, the 11th day of August
\n2011 at 11.30 a.m., for the purpose of considering and if thought
\nfit, approving with  or without modifications, the proposed Composite
\nscheme of Arrangement in the nature of De-merger and Transfer of
\nInvestment Division of Asman Investments Limited, the De-merged
\nCompany to Arvind Limited and amalgamation of the Arvind Products
\nLimited, the Transferor Company with Arvind Limited, as proposed
\nbetween the applicant – Company and its creditors.\n<\/p>\n
[2]\tThat a meeting of
\nthe Equity Shareholders of the applicant – Company shall be
\nconvened and held at Thakorbhai Desai Hall, Near Law Garden,
\nEllisbridge, Ahmedabad 380 006 in the State of Gujarat on Friday, the
\n12th day of August 2011 respectively at 9.30 a.m., for the
\npurpose of considering and if thought fit, approving with or without
\nmodifications, the proposed Composite scheme of Arrangement in the
\nnature of De-merger and Transfer of Investment Division of Asman
\nInvestments Limited, the De-merged Company to Arvind Limited and
\namalgamation of the Arvind Products Limited, the Transferor Company
\nwith Arvind Limited, as proposed between the applicant –
\nCompany and its shareholders.\n<\/p>\n
[3]\tThat at
\nleast 21 clear days before the meetings to be held as aforesaid,
\nNotice convening the said meetings, indicating the day, the date, the
\nplace and the time as aforesaid, together with a copy of the scheme
\nof arrangement, copy of the explanatory statement required to be sent
\nunder Section 393 of the Companies Act, 1956 and the prescribed Form
\nof Proxy shall be sent by a pre-paid letter posted under Book Post,
\naddressed to each of the Equity Shareholders and  Secured Creditors
\nof the applicant – Company, at their last known address.\n<\/p>\n
[4]\tThat at
\nleast 21 clear days before the meetings to be held as aforesaid,
\nnotice convening the said meetings indicating the day, the date, the
\nplace and time as aforesaid be published, stating that copies of the
\nScheme of Arrangement, the Explanatory Statement required to be
\nfurnished pursuant to Section 393 of the Companies Act, 1956 and Form
\nof Proxy can be obtained free of charge at the Registered Office of
\nthe applicant – Company and \/ or at its Advocate’s office i.e.
\n301, Shivalik-10, Opp. SBI Zonal Office, Near Old Excise Chowky, S.
\nM. Road, Ambavadi, Ahmedabad 380 015 once each in the Indian Express,
\nEnglish daily and Gujarat Samachar, Gujarati daily (bothy Ahmedabad
\nedition).\n<\/p>\n
[5]\tShri
\nAnangbhai Lalbhai, the Chairman and Managing Director of the
\napplicant – Company, and failing him Shri Jayeshbhai K. Shah,
\nthe Director and Chief Financial Officer of the applicant –
\nCompany, and failing him Shri Jagdishbhai G. Dalal, Authorized
\nOfficer of the applicant – Company shall be the Chairman of the
\naforesaid meetings to be held respectively on 11th and
\n12th August 2011 and in respect of any adjournment or
\nadjournments thereof.\n<\/p>\n
[6]\tThat
\nthe Chairman appointed for the aforesaid meetings do issue
\nadvertisements and send out notices of the said meetings referred to
\nabove. It is further directed, that the Chairman of the meetings
\nshall have all powers under the Articles of Association of the
\napplicant – Company and under the Companies (Court) Rules, 1959
\nin relation to conduct of meetings including an amendment to the
\nScheme or resolution, if any, proposed at any of the meetings by any
\nperson(s); adjourning any of the meetings to another day, if so
\nrequired and to ascertain the decision of the meeting on a poll.\n<\/p>\n
[7]\tThat
\nthe quorum for the meetings of Equity Shareholders  shall be 5 (five)
\nmembers, present either in person or through proxy, whereas for the
\nmeeting of Secured Creditors, the quorum shall be 2 (two) of the
\nSecured Creditors, present through authorized representative or
\nthrough proxy.\n<\/p>\n
[8]\tThat
\nvoting by proxy is permitted provided that the proxy in the
\nprescribed form and duly signed by the person entitled to attend and
\nvote at the aforesaid meeting, or by his authorised representative,
\nis filed with the applicant – Company at its registered office
\nat Ahmedabad, not later than 48 hours before the said meeting.\n<\/p>\n
[9]\tThat
\nthe value of the vote of each Equity Shareholder of the Company shall
\nbe as per the entries in the registers of the company and that of the
\ncreditor shall be as per the books of accounts of the company and
\nwhere the entries in the records or registers are disputed, the
\nChairman of the meetings shall determine the value or number for the
\npurposes of the meeting and his decision in that behalf would be
\nfinal.\n<\/p>\n
[10]\tThat
\nthe Chairman do report to this Court, the result of the said meetings
\nwithin 14 days of the conclusion of the meetings and the said report
\nshall be verified by his affidavit.\n<\/p>\n
[11]\tThe
\napplication is hereby disposed of.\n<\/p>\n
[
\nK. M. THAKER, J. ]<\/p>\n
vijay<\/p>\n
\t\t   \u00a0\u00a0\u00a0<\/p>\n
\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"
Gujarat High Court ========================================= vs None For on 6 July, 2011 Author: K.M.Thaker, Gujarat High Court Case Information System Print COMA\/368\/2011 5\/ 5 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY APPLICATION No. 368 of 2011 ========================================= ARVIND LTD Versus Blank Name ========================================= Appearance : MRS SWATI SOPARKAR for Applicant None for Respondent […]<\/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-168878","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"\n========================================= vs None For on 6 July, 2011 - Free Judgements of Supreme Court & 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\/vs-none-for-on-6-july-2011\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"========================================= vs None For on 6 July, 2011 - 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