Famous Studios Ltd v. ---
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY SUMMONS FOR DIRECTION NO. 924 OF 2016 In the matter of the Companies Act, 1956 (1 of 1956);
and In the matter of Sections 391 to 394 of the Companies Act, 1956;
and In the matter of Scheme of Arrangement and Reconstruction under Sections 391 to 394 of the Companies Act, and applicable provisions under the Companies Act, 2013, between Famous Studios Limited, the promoters of Famous Studios Limited and the public shareholders of Famous Studios Limited Famous Studios Limited, CIN ) No U92190MH1946PLC004996 a ) company incorporated under the ) Companies Act, 2013 and having ) its registered office at 20, Dr. E.
)
Moses Road, Mahalaxmi, ) Mumbai, Maharashtra - 400 011 ) ...Applicant Company Called for Summons for Direction Mr. Peshwan Jehangir, Ms.Krishna Kedia and Mr. Himanshu Vidhani i/b Khaitan & Co., Advocates for the Applicant Company Coram: S.C. Gupte, J.
Dated: 25th November, 2016 Minutes of Order Upon the application of the Applicant Company abovenamed by a Summons for Direction AND UPON HEARING the Advocates for the Applicant Company AND UPON READING the Affidavit dated the 6th day of October, 2016 of Sarvotham Shetty, Director of the Applicant Company, in support of the Summons for Direction along with the Exhibits therein referred to, IT IS ORDERED:- 1.
That convening and holding of 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 Scheme of Arrangement and Reconstruction under Sections 391 to 394 of the Companies Act, 1956 and applicable provisions under the Companies Act, 2013, and Reconstruction of Famous Studios Limited, the promoters of Famous Studios Limited and the public shareholders of Famous Studios Limited ("Scheme"), be dispensed with in view of the averments made in paragraph 22 of the Affidavit in Support of this Company Summons for Directions and consent letters of 7 Equity Shareholders of the Applicant Company, aggregating to 96.42% of the total outstanding equity share capital of the Applicant Company, being Exhibits No.
"G-1" to "G-7" of the Affidavit in Support of the Company Summons for Directions of the Applicant Company and the Applicant Company giving an undertaking to issue individual notice of the date of hearing of the Company Scheme Petition to all the Equity Shareholders by registered post AD, and issue public notice of the date of hearing of the Company Scheme Petition in two local newspapers viz.
thereof in Navshakti in Marathi language, both having circulation in Mumbai;
2. That the convening and holding of the meeting of the preference shareholders of the Applicant Company for the purpose of considering, and if thought fit, approving, with or without modification(s), the proposed Scheme, does not arise in view of the averments made in paragraph 23 of the Affidavit in Support of the Company Summons for Directions stating that the Applicant Company does not have any preference shareholders;
3. That convening and holding of the meeting of the Secured Creditors of the Applicant Company, for the purpose of considering, and if thought fit, approving, with or without modification(s), the proposed Scheme, does not arise in view of the averments made in paragraph 24 of the Affidavit in Support of this Company Summons for Directions stating that the Applicant Company does not have any Secured Creditors;
4. That convening and holding of 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 proposed Scheme, does not arise in view of the averments made in paragraph 25 of the Affidavit in Support of this Company Summons for Directions stating that the Applicant Company does not have any Unsecured Creditors;
5. That the convening and holding of the meeting of the debenture holders of the Applicant Company for the purpose of considering, and if thought fit, approving, with or without modification(s), the proposed Scheme, does not arise in view of the averments made in paragraph 26 of the Affidavit in Support of the Company Summons for Directions stating that the Applicant Company does not have any debenture holders (secured and unsecured); and 6.
That the publication of the notice of the proposed Scheme of Arrangement and Reconstruction in the Maharashtra Government Gazette is dispensed with.
(S.C. Gupte, J.) C E R T I F I C A T E I certify that this Order uploaded is a true and correct copy of original signed order.
Uploaded by: Shankar Gawde, Stenographer