Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2015 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (12) TMI 1713 - HC - Companies LawScheme of Arrangement - dispensing with the meeting of the Equity Shareholders, Secured and Unsecured Creditors of the Applicant Transferor Company- Held that:- When all the Equity Shareholders and unsecured creditors of the Scope E-Knowledge Center Private Limited (Transferor Company/ Petitioner Company I) and secured and unsecured creditors of the Quatrro Global Services Private Limited (Transferee Company/ Petitioner Company II) have given their consent to the Scheme of Arrangement, I do not find any reason to decline the prayer to dispense with their meeting. Accordingly, their meeting is dispensed with. There is no secured creditor of Petitioner Company I. As far as the prayer of counsel for the petitioner regarding convening the meeting of Equity Shareholders of the petitioner company II, is concerned, the prayer is justified. Accordingly, it is directed that a meeting of Equity Shareholders of the Petitioner Company II be convened accordingly. The meeting shall be conducted strictly in accordance with law and after due notification/notice to all concerned including publication in the newspapers namely “Indian Express” (English) and “Jan Satta” (Hindi)”, both Delhi/NCR Editions, and publication in the Official Gazette of Government of Haryana. Notice of the meeting of the equity shareholders Petitioner company II shall be issued at least 21 days before the date of proposed meeting. Individual notices be also sent to the Equity Shareholders of the company through post. The scheme put up in the meeting of the Equity Shareholders shall be approved/ decided by the majority in number and by minimum 75% in value of the Equity Shareholders present and voting either in person or proxy.
|