2016 (2) TMI 1132

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..... mons dated 12th February 2016, filed under Secs.391 to 394 of the companies Act, 1956, in a proposed Scheme of Amalgamation of Arvind Envisol Private Limited, the Applicant Transferor Company with Arvind Accel Limited, as proposed between the Applicant Company and its Shareholders and Creditors. 2 Smt. Swati Soparkar, advocate appears for the applicant company. Submissions are made (I) praying fo .....

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..... itted that there are no Secured Creditors as confirmed by the certificate from the Chartered Accountant. However, the applicant has prayed to convene a meeting of the Unsecured Creditors of the company to obtain their approval to the proposed Scheme. In view of the above, the following order is passed: 5 That a meeting of the Unsecured Creditors of the Applicant Company shall be convened and held .....

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..... to each of the Unsecured Creditors of the Applicant Company, at their last known addresses. 7 That at least 21 clear days before the meeting to be held as aforesaid, Notice convening the said meetings indicating the day, the date, the place and time as aforesaid be published, stating that copies of the Scheme of Arrangement, the Explanatory Statement required to be furnished pursuant to Section .....

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..... es of the said meeting referred to above. It is further directed, that the Chairman of the meeting shall have all powers under the Articles of Association of the Applicant Company and under the Companies (Court) Rules, 1959 in relation to conduct of meeting including an amendment to the Scheme of resolution, if any, proposed at the meeting by any person(s), adjourning the meeting to another day, i .....

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..... of the meeting shall determine the value or number for the purposes of the meeting and his decision in that behalf would be final. 13 That the Chairman shall report to this Court, the result of the said meetings within 14 days of the conclusion of the meetings and the said Report shall be verified by his affidavit. 14 The application is hereby disposed of.
Case laws, Decisions, Judgements, O .....

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