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2008 (12) TMI 399 - SC - Companies LawWhether an application filed by the Company under section 391(1) of the Companies Act, 1956 seeking directions to convene a meeting of creditors and members to consider a scheme of amalgamation is required to be heard and decided ex parte as per Rule 67 of the Companies (Court) Rules, 1959? Held that:- Appeal allowed. From a bare reading of that judgment the said case related to interpretation of section 394A of the Companies Act with which we are not concerned in this case. Be that as it may, there are observations in the said judgment, with respect, with which we do not agree, both on the interpretation of Rules 67 and 69 on one hand as also on the basis of the practical effect of the interpretation given by the High Court in the present case. If at the threshold stage of directions to convene a meeting hearing is required to be given to the members as held in the impugned judgment the scheme of the Companies (Court) Rules, 1959 will become unworkable.
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