TMI Blog2016 (7) TMI 1363X X X X Extracts X X X X X X X X Extracts X X X X ..... he Applicant ORAL ORDER 1.The present Judges Summons have been taken out by Shalby Limited, for appropriate orders for dispensing with the meeting of the Equity Shareholders, Preference Shareholders, Secured and Unsecured Creditors of the Applicant Transferee and for considering of the Composite Scheme of Arrangement, as annexed at Annexure G to the Application. 2.The affidavit f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... given their consent. The consent letters are annexed at Annexure I (Colly) . A Certificate by the Chartered Accountant is annexed at Annexure H certifying the list of Equity Shareholders. 4.It is submitted by Ms. Raval, learned advocate for the applicant, that the convening and holding the meeting of the Preference Shareholders of the Applicant Transferee Company for the purpose of cons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sent. The consent letters are annexed at Annexure M (Colly) . A Certificate by the Chartered Accountant is annexed at Annexure L certifying the list of Secured Creditors. 6.It is further submitted by Ms. Raval, learned advocate for the applicant, that the convening and holding the meeting of the Unsecured Creditors of the Applicant Transferee Company for the purpose of considering and, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xure M . 7.It is submitted by Ms. Raval, that the Reduction of Capital of the Scheme and hence the separate procedure under the provisions of Section 100 to 103 of the Companies Act, 1956 and corresponding provision of the Companies Act, 2013 be dispensed with. 8.This Court has heard learned counsel for the applicant and considered the documents produced along with the Judge s Summons with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing of the Unsecured Creditor of the Applicant Transferee Company is dispensed with in view of the fact that the rights and interest of the Unsecured Creditor is not affected by the proposed Scheme of Arrangement and no compromise or arrangement is offered to the Unsecured Creditors and the Chartered Account Certificate. e.The separate procedure under the provision of Section 100 to 103 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
