Ishar Trading Pvt. Ltd. v. -
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTIONS NO.692 OF 2016
IN THE MATTER OF SECTIONS 391 TO 394
OF THE COMPANIES ACT, 1956 (OR REENACTMENT THEREOF UPON EFFECTIVENESS OF COMPANIES ACT, 2013).
AND IN THE MATTER OF AGRITRADEX COMMODITIES (INDIA) PRIVATE LIMITED AND ATRADEX COMMODITIES PRIVAET LIMITED AND ISHAR TRADING PRIVATE LIMITED AND ISHARANI TRADING PRIVATE LIMITED AND AMRUT SAGAR TRADING ("TRANSFEROR COMPANIES") WITH COWES BAY TRADING ("TRANSFEREE COMPANY").
ISHAR TRADING PRIVATE LIMITED, ) A company incorporated under the ) Companies Act, 1956, having its registered ) Page 1 to 5
Office at 35 C Wing, 3rd Floor, ) Film Centre, 68, Tardeo Road, ) Mumbai 400 034.
) .. Applicant Company (Third Transferor Company) Called Summons for Direction for Hearing Mr. Mahesh Haridas Chandanshiv, Advocate for Applicant Company CORAM : B.P. COLABAWALLA J.
DATED : 12.08.2016 MINUTES OF THE ORDER UPON the Application of the abovenamed Company by Summons for Directions and UPON HEARING Mr. Mahesh Haridas Chandanshiv, the Advocate for the Applicant Company and UPON READING THE Affidavit of Chetan Ratilal Isharani dated 31st day of March, 2016 and the Exhibits therein referred to, IT IS ORDRED THAT, 1.
The convening of the meeting of the Equity Shareholders of ISHAR TRADING PRIVAETE LIMITED, the Applicant Company for the purpose of considering, and if thought fit, approving with or without modification, a scheme of Amalgamation of AGRITRADDEX COMMODITIES (INDIA) PRIVATE LIMITED being First Transferor Company and ATRADEX COMMODITIES PRIVATE LIMITED being
Second Transferor Company and ISHAR TRADING LIMITED being Third Transferor Company and ISHARANI TRADING PRIVATE LIMITED being Fourth Transferor Company and AMRUT SAGAR TRADING being Fifth Transferor Company with COWES BAY TRADING PRIVATE LIMITED being Transferee Company is dispensed with in view of consent given by both shareholders of the Applicant Company which is annexed and marked Exhibit-D1 to Exhibit-D2 to the Affidavit in support of company Summons for Directions of the Applicant Company.
2.
The convening of the meeting of the Unsecured Creditors of ISHAR TRADING PRIVATE LIMITED, the Applicant Company for the purpose of considering, and if thought fit, approving with or without modification, a scheme of Amalgamation of AGRITRADEX COMMODITIES (INDIA) PRIVATE LIMITED being First Transferor Company and ATRADEX COMMODITIES PRIVATE LIMITED being Second Transferor Company and ISHAR TRADDING PRIVATE LIMITED being Third Transferor Company and ISHARANI TRADING PRIVATE LIMITED being Fourth Transferor Company and AMRUT SAGAR TRADING being Fifth Transferor Company with COWES BAY TRADING PRIVATE LIMITED being Transferee Company is dispensed with in view of consent given by the Un-secured Creditors of the Applicant Company which are annexed and marked Exhibit "F" to the Affidavit in support of
Company Summons for Directions of the Applicant Company. The Applicant Company undertakes to publish the date of hearing of Company Scheme Petition in two newspapers namely, the Free Press Journal in English and the Translation thereof in Marathi in Navshakti both having publication in Mumbai. The said undertaking is accepted.
3.
As on 31.03.2016, there was the Debenture holder whom an amount of Rs.25,00,000/- was due. In view of the fact that the Applicant Company has paid off the dues of the Debenture holder on 19.05.2016, the convening of the meeting of the Debenture Holder of ISHAR TRADING PRIVATE LIMITED, the Applicant Company for the purpose of considering, and if thought fit, approving with or without modification, a scheme of Amalgamation of AGRITRADEX COMMODITIES (INDIA) PRIVATE being First Transferor Company and ATRADEX COMMODITIES being Second Transferor Company and ISHAR TRADING PRIVATE LIMITED being Third Transferor Company and ISHARANI TRADING PRIVATE LIMITED being Fourth Transferor Company and AMRUT SAGAR TRADING PRIVATE LIMITED being Fifth Transferor Company with COWES BAY TRADING PRIVATE LIMITED being Transferee Company is dispensed with. The Applicant Company undertakes to give notice of date of hearing of Company Scheme Petition to the Debenture holder who has been paid off. The said undertaking is accepted.
4.
The question of convening and holding meeting of Secured Creditors does not arise as there are no Secured Creditors of the Applicant Company as state in paragraph 26 of the Affidavit in Support of Company Summons for Direction.
(B.P. COLABAWALLA J) CERTIFICATE I certify that this Order uploaded is a true and correct copy of the Original signed Order.
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