{"id":224766,"date":"2011-09-21T00:00:00","date_gmt":"2011-09-20T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/metrochem-vs-unknown-on-21-september-2011"},"modified":"2016-03-28T11:58:37","modified_gmt":"2016-03-28T06:28:37","slug":"metrochem-vs-unknown-on-21-september-2011","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/metrochem-vs-unknown-on-21-september-2011","title":{"rendered":"Metrochem vs Unknown on 21 September, 2011"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Metrochem vs Unknown on 21 September, 2011<\/div>\n<div class=\"doc_author\">Author: K.A.Puj,<\/div>\n<pre>  \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\n\n \n\n\n\t \n\nCOMA\/108\/2009\t 3\/ 3\tORDER \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nCOMPANY\nAPPLICATION No. 108 of 2009\n \n\nIn\n\n\n \n\nCOMPANY\nPETITION No. 22 of 2008\n \n\nWith\n\n\n \n\nCOMPANY\nAPPLICATION No. 109 of 2009\n \n\nIn\n\n\n \n\nCOMPANY\nPETITION No. 23 of 2008\n \n\n \n=========================================================\n\n\n \n\nMETROCHEM\nINDUSTRIES LIMITED - Applicant(s)\n \n\nVersus\n \n\n.\n- Respondent(s)\n \n\n=========================================================\nAppearance : \nMR\nSN SOPARKAR with MR SANDEEP S. SINGHI for SINGHI &amp; CO for\nApplicant(s) : 1, \nNone for Respondent(s) : 1, \nMR HARIN P RAVAL\nfor Respondent(s) :\n1, \n=========================================================\n\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.A.PUJ\n\t\t\n\t\n\n \n\n \n \n\n\n \n\nDate\n: 25\/03\/2009 \n\n \n\n \nORAL\nORDER<\/pre>\n<p>The<br \/>\n\tapplicant Companies are the original petitioners in Company Petition<br \/>\n\tNos.22\/2008 and 23\/2008 respectively and have taken out the Judge&#8217;s<br \/>\n\tSummons seeking permission to substitute the Scheme, being Annexure<br \/>\n\t&#8216;D&#8217; to Company Petition Nos.22 and 23\/2008 with the amended modified<br \/>\n\tscheme being Annexure &#8216;L&#8217; to the Company Application No.108\/2009 and<br \/>\n\tAnnexure &#8216;C&#8217; to Company Application No.109\/2009.  The applicants<br \/>\n\thave also prayed for sanction of the amended modified scheme being<br \/>\n\tAnnexure &#8216;L&#8217; and &#8216;C&#8217; to the respective  applications and seeking a<br \/>\n\tdeclaration that the same are binding on the applicant company, the<br \/>\n\tequity shareholders, the secured creditors and unsecured creditors<br \/>\n\tof the applicant Companies, namely Baroda Textile Effects Limited,<br \/>\n\tthe resulting company and Metrochem Industries Limited, the demerged<br \/>\n\tcompany and all the persons concerned under the amended modified<br \/>\n\tscheme.\n<\/p>\n<p>Having<br \/>\n\theard the learned Senior Counsel, Mr. S.N. Soparkar and Mr. Sandeep<br \/>\n\tS. Singhi, the learned Advocate for the applicants and having<br \/>\n\tconsidered the facts stated and averments made in the application,<br \/>\n\tPrayer &#8216;(a)&#8217; is granted and accordingly the applicant is permitted<br \/>\n\tto substitute the scheme by the modified scheme.  As far as Prayer<br \/>\n\t&#8216;(b)&#8217; is concerned, the same will be considered at the time of<br \/>\n\thearing of the main Company Petitions, namely Company Petitions<br \/>\n\tNos.22 and 23 respectively.\n<\/p>\n<p>Subject<br \/>\n\tto the aforesaid observation and clarification, both these Company<br \/>\n\tApplications are accordingly disposed of.  Office is directed to<br \/>\n\tkeep the papers of both these Company Applications alongwith Company<br \/>\n\tPetitions Nos.22 and 23\/2008 for further hearing on April 1, 2009.\n<\/p>\n<p>(K.A.\n<\/p>\n<p>Puj, J.)<\/p>\n<p>Caroline<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Metrochem vs Unknown on 21 September, 2011 Author: K.A.Puj, Gujarat High Court Case Information System Print COMA\/108\/2009 3\/ 3 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY APPLICATION No. 108 of 2009 In COMPANY PETITION No. 22 of 2008 With COMPANY APPLICATION No. 109 of 2009 In COMPANY PETITION No. [&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-224766","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>Metrochem vs Unknown on 21 September, 2011 - Free Judgements of Supreme Court &amp; 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