{"id":255963,"date":"2008-07-16T00:00:00","date_gmt":"2008-07-15T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/shree-vs-unknown-on-16-july-2008"},"modified":"2018-05-27T04:18:52","modified_gmt":"2018-05-26T22:48:52","slug":"shree-vs-unknown-on-16-july-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/shree-vs-unknown-on-16-july-2008","title":{"rendered":"Shree vs Unknown on 16 July, 2008"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Shree vs Unknown on 16 July, 2008<\/div>\n<div class=\"doc_author\">Author: Ravi R.Tripathi,&amp;Nbsp;<\/div>\n<pre id=\"pre_1\">   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\n\n \n\n\n\t \n\nCOMA\/401\/2008\t 2\/ 6\tORDER \n \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. 401 of 2008\n \n\n \n=========================================================\n\n \n\nSHREE\nRAMA MULTI TECH LIMITED - Applicant(s)\n \n\nVersus\n \n\n.\n- Respondent(s)\n \n\n=========================================================\n \nAppearance\n: \nMRS\nSWATI SOPARKAR for\nApplicant(s) : 1, \nNone for 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 RAVI R.TRIPATHI\n\t\t\n\t\n\n \n\n \n \n\n\n \n\nDate\n: 16\/07\/2008\n \n\nORAL\nORDER<\/pre>\n<p id=\"p_1\">Heard<br \/>\n\tMrs.Swati Soparkar, learned advocate for applicant. The learned<br \/>\n\tadvocate moves a draft amendment. The same is allowed. Amendment be<br \/>\n\tcarried out during the course of a day.\n<\/p>\n<p id=\"p_1\">A<br \/>\n\tmeeting of the Equity Shareholders of the Company be convened and<br \/>\n\theld at the ATMA Conference Hall, Ahmedabad Textile Mills<br \/>\n\tAssociation, Ashram Road, Navrangpura, Ahmedabad-380009 on<br \/>\n\tWednesday, the 27th day of August 2008 at 11-00 a.m., for<br \/>\n\tthe purpose of considering and if thought fit approving with or<br \/>\n\twithout modification(s), composite Scheme of Compromise and<br \/>\n\tArrangement in the nature of compromise with various classes of<br \/>\n\tlenders as well as the Reduction of the Share Capital of the<br \/>\n\tApplicant-Company viz. Shree Rama Multi Tech Limited proposed<br \/>\n\tbetween the company and its shareholders and lenders.\n<\/p>\n<p id=\"p_2\">The<br \/>\n\tseparate meeetings of the Preference Shareholders, Class &#8216;A&#8217; Lenders<br \/>\n\tand Class &#8216;B&#8217; Lenders of the Company be convened and held at Hotel<br \/>\n\tFortune Landmark, Usmanpura Cross Roads, Ashram Road, Ahmedabad-380<br \/>\n\t013 on Saturday, the 30th day of August 2008 at 11-00<br \/>\n\ta.m., 11-30 a.m. and 12-00 noon respectively, or at the conclusion<br \/>\n\tof the previous meeting whichever is later, for the purpose of<br \/>\n\tconsidering and if thought fit approving with or without<br \/>\n\tmodification(s), composite Scheme of Compromise and Arrangement in<br \/>\n\tthe nature of compromise with various classes of lenders as well as<br \/>\n\tthe Reduction of the Share Capital of the Applicant-Company viz.<br \/>\n\tShree Rama Multi Tech Limited proposed between the company and its<br \/>\n\tshareholders and lenders.\n<\/p>\n<p id=\"p_3\">At<br \/>\n\tleast 21 clear days before the meetings be held as aforesaid, Notice<br \/>\n\tconvening the said meetings, indicating the day, the date, the place<br \/>\n\tand the time as aforesaid, together with a copy of the Scheme of<br \/>\n\tArrangement, copy of the Explanatory Statement required to be sent<br \/>\n\tunder <a href=\"\/doc\/506042\/\" id=\"a_1\">Section 393<\/a> of the Companies Act, 1956 and the prescribed Form<br \/>\n\tof Proxy shall be sent by a pre-paid letter posted under Certificate<br \/>\n\tof Posting, addressed to each of the Equity Shareholders, Preference<br \/>\n\tShareholders, Class &#8216;A&#8217; Lenders and Class &#8216;B&#8217; Lenders of the<br \/>\n\tApplicant-Company at their last known address.\n<\/p>\n<p id=\"p_4\">At<br \/>\n\tleast 21 clear days before the meetings to be held as aforesaid,<br \/>\n\tNotice convening the said meetings, indicating the day, the date,<br \/>\n\tthe place and the time as aforesaid be published, stating that<br \/>\n\tcopies of the Scheme of Arrangement, the Explanatory Statement<br \/>\n\trequired to be furnished pursuant to <a href=\"\/doc\/506042\/\" id=\"a_1\">Section 393<\/a> of the Companies<br \/>\n\tAct, 1956 and Form of Proxy can be obtained free of charge at the<br \/>\n\tRegistered Office of the Applicant-Company and\/or at its<br \/>\n\tAdvocate-Smt.Swati Saurabh Soparkar&#8217;s office i.e. 204, Akanksha,<br \/>\n\tOpposite Vadilal House, Mithakhali, Navrangpura, Ahmedabad-380009,<br \/>\n\tonce each in the Indian Express, English daily and Gujarat Samachar,<br \/>\n\tGujarati daily, both Ahmedabad editions.\n<\/p>\n<p id=\"p_5\">Shri<br \/>\n\tR.S. Patel, Director of the Applicant-Comapny and failing him Shri<br \/>\n\tVikram V. Bhatt, Director of the Applicant-Company, shall be the<br \/>\n\tChairman of the aforesaid meetings to be held on 27th and<br \/>\n\t30th August 2008 and in respect of any adjournment or<br \/>\n\tadjournments thereof.\n<\/p>\n<p id=\"p_6\">The<br \/>\n\tChairman appointed for the aforesaid meetings do issue<br \/>\n\tadvertisements and send out notices of the said meetings referred to<br \/>\n\tabove. It is further directed, that the Chairman of the meetings<br \/>\n\tshall have all the powers under the Articles of Association of the<br \/>\n\tApplicant-Company and under the Companies (Court) Rules, 1959 in<br \/>\n\trelation to conduct of meetings including an amendment to the Scheme<br \/>\n\tor resolution, if any, proposed at the meetings by any person(s) and<br \/>\n\tto sustain the decision of the meetings on a poll.\n<\/p>\n<p id=\"p_7\">The<br \/>\n\tquorum for the meetings shall be 5(five) persons for the Equity<br \/>\n\tShareholders, 1(one) person for the Preference Shareholders, 4(four)<br \/>\n\tpersons for Class &#8216;A&#8217; Lenders and 4(four) persons for Class &#8216;B&#8217;<br \/>\n\tlenders present in person or through the authorised representatives<br \/>\n\tor through proxy.\n<\/p>\n<p id=\"p_8\">The<br \/>\n\tvoting by proxy is permitted provided that  the proxy in the<br \/>\n\tprescribed form and duly signed by the person entitled to attend and<br \/>\n\tvote at the aforesaid meetings, or by his authorised representative,<br \/>\n\tis filed with the Applicant-Company at its registered office at<br \/>\n\tAhmedabad, not later than 48 hours before the said meetings.\n<\/p>\n<p id=\"p_9\">The<br \/>\n\tvalue of the vote of each shareholder and creditor of the Company<br \/>\n\tshall be as per the entries in the Registers and\/or books of<br \/>\n\taccounts of the company and where the entries in the records or<br \/>\n\tregisters are disputed, the Chairman of the meetings shall determine<br \/>\n\tthe value or number for the purposes of the meetings and his<br \/>\n\tdecision in that behalf would be final.\n<\/p>\n<p id=\"p_10\">The<br \/>\n\tChairman to report to this Court, the result of the said meetings<br \/>\n\twithin 21 days of the conclusion of the meetings by filing a Report<br \/>\n\tverified by his affidavit.\n<\/p>\n<p id=\"p_11\">\t\t\tThe<br \/>\n\tapplication is disposed of accordingly.\n<\/p>\n<p id=\"p_12\">(Ravi<br \/>\nR. Tripathi, J)<\/p>\n<p>Aakar<\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Shree vs Unknown on 16 July, 2008 Author: Ravi R.Tripathi,&amp;Nbsp; Gujarat High Court Case Information System Print COMA\/401\/2008 2\/ 6 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD COMPANY APPLICATION No. 401 of 2008 ========================================================= SHREE RAMA MULTI TECH LIMITED &#8211; Applicant(s) Versus . &#8211; Respondent(s) ========================================================= Appearance : MRS SWATI [&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-255963","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>Shree vs Unknown on 16 July, 2008 - Free Judgements of Supreme Court &amp; 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