Fabtech Modular Technologies Private Ltd v. 0

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 108 OF 2015 In the matter of the Companies Act, 1956 AND In the matter of Sections 391 to 394 of the Companies Act, 1956.

AND In the matter of Fabtech Modular Technologies Private Limited having its registered office at 115, Ravikiran Estate, next to Mongines factory, off Oshiwara Link Road, Andheri (W), Mumbai 400053 AND In the matter of the Scheme of Arrangement and Reconstruction of Fabtech Projects Technologies Private Limited, Fabtech Modular Technologies Private Limited, Channel U Entertainment Private Limited, and Fabtech Technologies International Limited and their respective members and creditors.

Fabtech Modular Technologies Private Limited having its registered office at 115, Ravikiran Estate, Next to Monginies Factory, Off Oshiwara Link Road, Andheri (w), Mumbai - 400053 ) ) ) ) ) ) )...Applicant / Transferor Company No. 2 Called Summons for Direction Mr. Darshan Ashar i/b Sanjay Udeshi & Co, Advocate(s) for Applicant. Coram: S.J. Kathawalla, J.

Dated: 13th February, 2015 MINUTES OF ORDER Upon the application of the above-named Applicant Company by a Summons for Direction AND upon hearing Shri Darshan Ashar, Advocate for the Applicant AND upon reading the Affidavit dated 24th September, 2014 of Mrs. Aakriti Tambi, the

Authorised Signatory of the Applicant Company of Mumbai in support of the Summons for Direction, and the Exhibits therein referred to, IT IS ORDERED: 1.

That 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 Scheme of Arrangement and Reconstruction of Fabtech Projects Technologies Private Limited, Fabtech Modular Technologies Private Limited, Channel U Entertainment Private Limited and Fabtech Technologies International Limited, and their respective members and creditors, is dispensed with in view of the Consents given by all the three Equity Shareholders of the Applicant Company which are annexed as Exhibits C1 to C3 to the Affidavit in Support of Summons for Directions.

2.

That there are no secured creditors and preference shareholders in the Applicant Company as mentioned in paragraph 17 of the Affidavit in support of Company Summons for Direction. Hence the question of convening and holding the meeting of secured creditors and preference shareholders does not arise..

3.

That convening and holding the meeting of the Unsecured Creditors of the Applicant Company, for the purpose of considering and if thought fit, approving with or without modification(s), the Scheme of Arrangement and Reconstruction of Fabtech Projects Technologies Private Limited, Fabtech Modular Technologies Private Limited, Channel U Entertainment Private Limited, and Fabtech Technologies International Limited and their respective members and creditors, is dispensed with in view of the consent given by some of the unsecured creditors which are annexed as Exhibit F1 and F2 to the Affidavit in Support of Company Summons for Direction and in view of the averment made in para 18 inter-alia stating that the Applicant undertakes to issue individual Notice of date of hearing of Petition by R.P.A.D. to its remaining unsecured creditor and also undertakes to publish the same in two local news papers i.e. "Free Press Journal" in English language and translation thereof in "Navshakti" in

Marathi language both having circulation in Mumbai. The said undertaking is accepted.

(S.J. Kathawalla J)