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In Re: Akshar Estates Private Limited.

2016 (4) TMI 1257 - GUJARAT HIGH COURT

Composite Scheme of Arrangement in the nature of Demerger - convening the meetings of the Equity Shareholders and Unsecured Creditors of the applicant Company - Held that:- In view of the facts and circumstances and considering the submissions advanc .....

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-4-2016 - Honourable Smt. Justice Abhilasha Kumari Mrs Swati Soparkar, Advocate for the Applicant. ORAL ORDER 1. A Composite Scheme of Arrangement in the nature of Demerger and Transfer of Real Estate Undertakings and Portfolio Investment Undertaking .....

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r and Engineering Limited the Transferee Company, is proposed under Sections 391 to 394 read with Sections 78 and 100 to 103 of the Companies Act, 1956 and Section 52 of the Companies Act, 2013. 2. In this regard, the present application is filed by .....

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Heard Mrs. Swati Soparkar, learned advocate for the applicant Company. 4. It has been submitted that all the Equity Shareholders and Unsecured Creditors of the Applicant Company, as on date, have approved the Scheme in the form of written consent le .....

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eipt of consent letters from all the Shareholders and Unsecured Creditors are annexed collectively as Exhibit F . In view of the same, dispensation is sought from convening the meetings of the Equity Shareholders and Unsecured Creditors of the applic .....

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hat pursuant to clause 12 of the Scheme, the utilisation of Securities Premium Reserve Account of the Applicant Company is envisaged. The same being consequential in nature, is proposed as an integral part of the proposed Scheme of Arrangement. It ha .....

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