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In Re. : Khandwala Enterprise Private Limited.

2016 (4) TMI 1258 - GUJARAT HIGH COURT

Scheme of Arrangement in the nature of Demerger - Held that:- The Applicant has sought dispensation from the holding of such meetings of creditors. Considering the above facts and the submissions advanced, the dispensation of the meetings of the cred .....

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ature of Demerger and Transfer of the Investment Business of SPS Share Brokers Private Limited to Khandwala Enterprise Private Limited, is proposed under Sections391 to 394 of the Companies Act, 1956. It has been submitted that the Demerged Company h .....

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the Judges Summons taken out on 16th April 2016, it has prayed for the dispensation of the meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors of the Applicant Company. 3. Heard Mrs.Swati Soparkar, learned advocate for the .....

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D . The certificate confirming the status of the Shareholders as well as the receipt of the consent letters from all the Shareholders, is annexed as Exhibit E . In view of the same, dispensation is sought from convening the meetings of the Equity Sha .....

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eby it has been submitted that the rights and interests of the Creditors of the Applicant Resulting Company shall not be affected in any manner, as a result of the proposed Scheme. The proposed Scheme does not envisage any arrangement or compromise w .....

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hich confirms that the Net worth of the Applicant Company, as on 31st March 2015, was ₹ 33.57 Crores. In PostScheme scenario, it shall be approximate ₹ 60.02 Crores. In view of the above, it has been submitted that the approval of the cre .....

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