Siyaram Polycote Pvt. Ltd. v. -
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO 802 OF 2016 In the matter of Companies Act, 1956 (1 of 1956) AND In the matter of Sections 391 to 394 read with Section 100 to 104 of the Companies Act, 1956 AND In the matter of Composite Scheme of Amalgamation and Arrangement between Seeom Fabrics Limited and Siyaram Polycote Private Limited and Vishal Furnishings Limited and their respective shareholders Siyaram Polycote Private Limited, a company ) incorporated under the provisions of Companies ) Act, 1956 having its registered office at 211, Shiv ) Shakti Ind. Estate, 2nd Floor, Plot-7B, J.R.
) Boricha Marg, Lower Parel, Mumbai - 400011, ) ) ........ Applicant Company Maharashtra, India.
Called Summons for Direction for Hearing Mr. Hemant Sethi with Mr. Ajit Singh Tawar i/b. Hemant Sethi & Co., Advocates for the Applicant Company CORAM: A.K. Menon, J DATE: 29TH September 2016
MINUTES OF THE ORDER UPON the Application of the Applicant Company above named by a Company Summons for Direction AND UPON HEARING Mr. Hemant Sethi instructed by Hemant Sethi & Co., Advocates for the Applicant Company, AND UPON READING the Affidavit dated 16th day of August , 2016 of Mr. Pradeep Jain, Director of the Applicant Company, in support of Company Summons for Direction, and the Exhibits there in referred to, IT IS ORDERED THAT:
1. The convening and holding the meeting of the Equity Shareholders of the Applicant Company, for the purpose of considering and, if thought fit, approving, with or without modification(s), the proposed Composite Scheme of Amalgamation and Arrangement between Seeom Fabrics Limited and Siyaram Polycote Private Limited and Vishal Furnishings Limited and their respective shareholders is dispensed with, in view of consents given by all the twenty Equity Shareholders of the Applicant Company, which are annexed as Exhibits "D1" to "D18" to the Affidavit in support of the Company Summons for Direction and upon applicant undertaking to give individual notice of the date of Hearing of the Petition to its shareholders whose consent letters are annexed as Exhibits "D19" and "D20" to the Affidavit in support of the Company Summons for Direction.
2. There are no Secured and Unsecured Creditors in the Applicant Company as stated in paragraph 23 of the Affidavit in support of Company Summons for Direction
respectively. Hence, the question of convening and holding the meetings of Secured and unsecured Creditors does not arise. (A.K. MENON, J) CERTIFICATE I certify that this Order uploaded is a true and correct copy of original signed order.
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